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Nortel CEO Quits

Nortel Networks, the bankrupt telecom equipment maker that is in the process of dismembering itself and selling off its pieces, says President and CEO Mike Zafirovski is leaving the company. Nortel is trying to put a happy face on the story, but the fact remains that the company is no different than the Titanic — going nowhere but down. The company recently auctioned off its CDMA/LTE business to Ericsson for $1.13 billion, a controversial move that has Canadian politicians up in arms, thanks to some very public foot-stomping by Research In Motion. No wonder Zafirovski, a former Motorola executive, wants to get out of there.

7 Responses to “Nortel CEO Quits”

  1. RamblingFish

    Om – you comment “No wonder Zafirovski, a former Motorola executive, wants to get out of there.” – the only reason Z is happy to be off now is, he and his cronies (Hackney, Bandrowzack, Eliage, Lowe) have succeed in lining their pockets with as much cash as they possibly could. The amount of malfeasance in play in Nortel is astounding. The only thing the bloody politicians up here should be up-in-arms about is the criminal behaviour. Thank whatever God you like that the remaining employees have a chance to be allocated to some other company, and can possibly escape the toxic environment the executives have left behind.

  2. A quote from the Joss Whedon film Serenity seems appropriate:

    “You know, in certain older civilized cultures, when men failed as entirely as you have, they would throw themselves on their swords.” – the Operative