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 thoughts on “Nortel CEO Quits”
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
RIP Nortel and Zafirovski’s career. Personal moment, Zafirovski taking the Nortel job was my last cover story for Red Herring before i left that sinking ship.
This is really a sad news.
This seems to be not a good standing of a company.
Thanks for keeping this post in here,this still gives ideas about the business.
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.