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.
“Zafirovski said the overhaul of the management team tops the list.”
Or are they bracing us for the long running and extensive criminal investigation findings?
Anonymous
Dudley, you are a 40 year old virgin
kramer kramer
Its nice that he has overhauled the management team. Lots of new highly paid people to supplement the existing highly paid people. But where are the results???
Brother Ralph
“tops the list” of what?
an inexperienmced board shooting from the hip with an inexperienced CEO as the stock drops… sure does “top the list” I guess…
jet
I work for Nortel and have worked for them for years. Their number one problem is management and it is still the number one problem.
Nortel doesn’t seem to take time to truly listen to the employee and this hurts them time and time again.
More of my friends were recently laid off in Raleigh and they were actually good talented people. Yet I noticed their manager playing video games on the computer on a regular basis.
Zafirovski Patient, Confident
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.