Nortel CEO takes charge--alone
Nortel Networks disbanded an executive group formed to help first-year CEO Frank Dunn yesterday. The company’s Office of The Chief Executive--consisting of Dunn, Chairman Lynton R. Wilson and former CEO John Roth--was organized last fall to help the new executive.
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Former CEO Roth had retired early as a result of brutal quarterly losses. Nortel posted a loss of almost $2 billion in fourth quarter of 2001 but expects to become profitable by the end of the year.
Under Dunn’s leadership, Nortel has accelerated a corporate overhaul, slashed its work force, sold non-core assets and trimmed its product line.
--Amalia D. Parthenios, staff writer
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© 2012 Penton Media Inc.
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