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Technology Stocks : Nortel Networks (NT)

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To: shoe who wrote (14492)	11/30/2005 8:00:22 PM
From: John Hayman	Read Replies (1) of 14638

New man doing some house cleaning. John Zafirovski's Nortel Says Adieu To McFadden, Spradly Greg Levine, 11.30.05, 1:35 PM ET NEW YORK - The new broom starts sweeping. A mere fortnight after Michael Zafirovski seized the chief executive's reins at Nortel Networks (nyse: NT - news - people ), the exec shakeup has begun. Long-time Nortel employees Brian McFadden and Sue Spradly have left the telecommunications equipment maker as of Nov. 28, the firm announced on Wednesday. McFadden and Spradly were chief research officer and president of global services and operations, respectively. Zafirovski's firm said that Peter Carbone will don the CRO mantle. Nortel's hunt continues for a new chief technology officer. David Downing will supervise global services and operations provisionally, while John Haydon assumes control of Nortel's global supply chain, according to the Ottawa Business Journal. Zafirovski took the CEO post once Nortel hammered out a $11.5 million settlement with his previous employer, Motorola (nyse: MOT - news - people ), which claimed he'd violated non-compete agreements by moving to his new digs.

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