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Zafirovski Patient, Confident
By Mark Evans | September 22, 2006
With nearly a year under his belt as CEO, Nortel’s Mike Zafirovski is confident the company is on the right path, although he concedes the pace of change would be faster. In a National Post story today (registration required), Zafirovski said he is interested in making “disciplined acquisitions” but feels there is no urgency to do something despite the consolidating happening within the industry. In fact, he believes there is opportunity for organic growth as rivals go through the integration process. Of course, Nortel’s acquisition ability is limited by declining cash reserves and a stock price that has dropped by 40% since Zafirovski was hired last October. In terms of his accomplishment during Year One, Zafirovski said the overhaul of the management team tops the list.
Topics: Executive Suite |