NBR transcript of an interview with Lucent's EVP Pat Russo:
"Forbes Executive Women's
Summit-Pat Russo Of Lucent
SUSIE GHARIB: It sounds hard to believe but
more than half of the people around the world
have never made a phone call. And Lucent
Technologies (NYSE:LU) wants to be there when
they do. NIGHTLY BUSINESS REPORT's Linda
O'Bryon asked Pat Russo, Lucent's executive
vice president for corporate strategy, about
the company's plans at a Forbes magazine
executive women's summit in Washington, DC
today.
LINDA O'BRYON, NIGHTLY BUSINESS REPORT
CORRESPONDENT: At this Forbes conference,
you're talking about the idea of chaos
management and managing in an interconnected
economy. First off, how do you define chaos management?
PATRICIA RUSSO, EXEC. VICE PRESIDENT,
LUCENT TECHNOLOGIES: Chaos management
can almost be defined based upon each of our
personal and professional experiences. I tend to
think of it as time of rapid change, unpredictable change.
Things are happening at incredibly fast paces.
O'BRYON: Now are women in the workplace
particularly suited to working in this kind of
chaotic management if you will, with rapid paced
change.
RUSSO: I wouldn't say that women are
particularly suited, nor would I say men are
particularly suited. I think people who put a
premium on maintaining a focus on customers,
on staying in touch with the external world, who
put a premium on speed, making decisions
quickly, being willing to take risks and being
accountable for those, are the kinds of people
that lead and manage best in times of great
change.
O'BRYON: Do you think that women's
management styles differ from those of men?
RUSSO: I think individuals' management styles
differ from those of each other. I am not a fan of
stereotyping. I tend to want to think in individual
terms as opposed to gender terms.
O'BRYON: What are the biggest hurdles women
face today?
RUSSO: I think that more and more the
complexities with, for the complexities that we
are managing in these interconnected and fast-
paced economies and industries, create a need
for rapid decision making and at the same time in
complex environments, bringing people together.
And so finding the balance between collaborating
and deciding is always a challenge.
O'BRYON: At Lucent Technologies, you direct
company strategy and business development.
What is your number one strategy for the
company?
RUSSO: We are very focused on growing globally
and growing faster than the market. We are very
focused on the hottest segments of the industry
that we're in, optical networking, data
networking, software, semiconductors. We are
very focused on speed and time to market in
leveraging the incredible technological capabilities of Bell Laboratories.
O'BRYON: A recent Forbes article says the buzz
around Wall Street is which company will Lucent
acquire? They've, the rumors have been Ascend
Communications (NASDAQ:ASND), 3Com
(NASDAQ:COMS). Any comments on the acquisition policies?
RUSSO: This wouldn't be an interview if I wasn't
asked about Lucent's next acquisition. First of
all, we don't have a strategy to acquire. We have
a business strategy and a set of strategies that
support that. We have said and I believe have
acted in a way that represents acquisitions are a
tactic to support those strategies. We have and
will continue to look at what makes sense for us
to fill out our capabilities.
O'BRYON: What kind of company makes sense to
fill out those capabilities?
RUSSO: We play in the data networking space,
the optical networking space, the switching and
access markets, the global markets, the software
markets, and we've made acquisitions in many of
those. And so it's, I can't say what company. I
can only say that we'll look at companies as they
make sense for the business, for our share owners in the critical
strategic spaces that are important for us and
the ones that are the fastest growing.
O'BRYON: And also saying they're expecting a
multi-billion dollar acquisition the next six
months. Are they right?
RUSSO: No comment.
O'BRYON: Has the focus of Lucent Technologies
shifted from the telephone instrument to more of
the networking services. It seems that you are
really in that marketplace of competitive aspects
toward companies like Cisco (NASDAQ:CSCO).
RUSSO: You are absolutely right about an, not
necessarily a shift of focus, but an expansion of
our focus. Our vision of communications network
is really much broader than just voice or data. It
has to do with wired networks and wireless
networks and optical networks and software and
services and we believe that Lucent plays like no one else.
O'BRYON: Are there particular countries however
that seem to be hot prospects for you in terms of
potential growth?
RUSSO: Our growth opportunities are really very
balanced. Our, we came late to the global market
and so, you know, we are a $30 billion company.
We think the market globally will be a $650
billion market by the year 2001 and that
represents tremendous, what we call head room
for growth for us.
O'BRYON: Thank you very much, Pat Russo,
Lucent Technologies.
Nightly Business Report transcripts are available
on-line post-broadcast.
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