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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Rob Riordan who wrote (11871)	6/15/1999 2:56:00 AM
From: pat mudge	Read Replies (1) \| Respond to of 18016

Rob -- Did you see the latest NT news? House is leaving: <<< Nortel Networks' president to leave by end August By Lydia Zajc TORONTO, June 14 (Reuters) - Nortel Networks Corp.'s David House, the former chief executive of Bay Networks which was acquired by Nortel last year, will resign as president by the end of August, the company said late on Monday. House, who only weeks ago said he would stay on another three or four years to oversee the integration of telecommunications company Nortel and data transfer company Bay Networks, will remain on Nortel's board of directors, the company said. The announcement from the Brampton, Ontario-based company came on the eve of the one-year anniversary of the definitive agreement to acquire Bay. Nortel's chief executive, John Roth, who had split his duties and offered House the post of president last year, said that while the two companies were quickly working out their differences, House seemed to be working himself out of a job. "It became clear that Dave had less and less to do," Roth said in an interview with Reuters. He said he will take on House's duties and expects the board will give him the title of president. House, who had left Intel Corp. after a long career to head up the California-based Bay, also might have ambitions to run a company again, Roth added. "Dave would rather be a CEO somewhere else," Roth said. In the company's statement, House said that the merger was a success and "it's the right time for me to explore other opportunities." Roth anticipates that House will remain on the board to provide direction, although he could not say for how long. "I think it's a nice way for Dave to give me advice and guidance." Roth said he doesn't anticipate that other Bay staff members will follow House out the door. He pointed out that Nortel has appointed former Bay chief technology officer Bill Hawe, to the same role at Nortel. >>>>