All About Nortel

According to the Ottawa Citizen, Nortel paid CEO Mike Zafirovski a sweet $8.27-million last year, while CFO Peter Currie made $2.25; Richard Lowe (head of carrier operations) $2.19-million and Dion Jonnou (head of North American operations) $2.11-million. Meanwhile, Brandes Investments Partners doubled its stake in Nortel to 10.8% from 5.4% las year.

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Two of Nortel’s former long-time executives - Pascal Debon and Brian McFadden - have been sent along with nice severance packages. Debon, who was a "special advisor" will receive a lump sum payment of $295,000 on June 24 and bi-weekly payments of $22,692 through Dec. 28 of 2007 while McFadden, who was chief research officer, [...]

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So Mike Z. gets a $1.2-million annual salary just for showing up. Then, he’s eligible for a bonus worth $1.8-million to $3.6-million if certain performance benchmark are reached. Then, there’s the five million stock options and 2.25 restricted stock options he received last year, which are currently worth nearly $18-million. And if Mike Z. sticks [...]

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It hasn’t take long for ex-Nortel CEO Bill Owens to get back on the board bandwagon. Owens is one of five designees to Sprint’s board that will own its local communications business. You may remember Nortel rewarded Owens - as only Nortel can do - when he resigned many of his [...]

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