Following the parade out the doors of Alcatel-Lucent (ALU), John Kritzmacher has accepted a position with Global Crossing (GLBC), where he’ll be the executive vice president and CFO.
Kritzmacher is a former Lucent Technologies CFO and current senior Alcatel-Lucent executive. After helping plan and execute the Lucent-Alcatel merger, Kritzmacher was named COO of the Services Business Group at Alcatel-Lucent, a business with approximately $5 billion in annual revenue.
Kritzmacher, 47, takes the reins Oct. 1, replacing Jean Mandeville. Mandeville announced in May he would leave the carrier. Kritzmacher’s base salary will total $495,000; Global Crossing also attached a target annual bonus equal to 65 percent of his base pay. He’ll also get 20,000 time-based restricted stock units that will vest on March 4, 2011, and is participating in a plan that ensures executives get very golden parachutes if something happens during their tenure.
