Having taken over as first CEO of Lucent, Henry Schact enrolls COO Rich McGinn as a partner in transforming the former Bell Labs and Western Electric into a high-growth, high-tech stock market star. The case traces Schact's first nine months' activities in launching and transforming the new company. Purpose of the case: we use it as a handout and following discussion of the A and B cases as either (1) a denouement, take-home reading, or (2) to debrief in a follow-on class to explore lessons learned.