Tag Archives: Mike Zafirovski

Nortel’s Sweet CEO Pension Packages

By Mark Evans | Published: October 25, 2009
As Nortel’s financial implosion starts to claw away at the pensions of former employees, I thought it would be interesting to take a look at the pension packages given to recent CEOs. It is important to keep in mind that while the pension payments seem high, it’s probably not out of line with pensions given [...]
Posted in Executive Suite, Financials | Also tagged , | 25 Comments

Mike Z. Wants His Dough

By Mark Evans | Published: October 8, 2009
As Nortel continues to disappear, the stream of head-shaking news continues to emerge. The latest development is ex-CEO Mike Zafirovski filing a $12.2 million claim with a U.S. Bankruptcy Court in the District of Delaware. In the claim, Mike Z. is asking for: - 24 months of base salary worth $2.4-million - $3.6-million in bonuses [...]
Posted in Executive Suite, Financials | Also tagged , | 155 Comments

Let the Nortel Garage Sale Begin!

By Mark Evans | Published: August 15, 2009
If there was any hope Nortel might re-emerge from bankruptcy protection as a smaller, more focused telecom equipment supplier (e.g. optical), it evaporated yesterday when an Ontario court expanded the responsibilities of Ernst & Young to include the sale of corporate assets. As well, Nortel’s layer, Derrick Tay, told Ontario Superior Court Judge Geoffrey Morawetz [...]
Posted in General | Also tagged , , | 174 Comments

The Board’s CEO Miscues

By Mark Evans | Published: August 12, 2009
You can look long and hard at what Nortel’s board could have done or should have done, particularly over the past three years while it let CEO Mike Zafirovski drive the company into the ground. (And folks, let’s stop sugar-coating Mike Z.’s performance by citing accounting issues, the economy, fierce competition, the credit crunch, etc.) [...]
Posted in General | Also tagged , , , , , | 29 Comments

It’s Not Just Mike Z.’s Fault

By Mark Evans | Published: August 11, 2009
As much as Nortel CEO Mike Zafirovski did an excellent job over the past 3+ years in killing Canada’s flagship high-tech company, it would be remiss to not shine the spotlight on the board, and the role it failed to play in providing much-needed supervision of the senior management, as well as serve the interests [...]
Posted in Executive Suite | Also tagged , , , | 90 Comments

Mike Z.’s Legacy = Fail

By Mark Evans | Published: August 11, 2009
After a 29-year career, Mike Zafirovski really wanted to be the CEO of a Fortune 500 company. So, after being abruptly passed over as Motorola’s head honcho, he took a deal with the devil when he agreed to become Nortel’s CEO in late-2005. At the time, Nortel was a mess. It was still engulfed in [...]
Posted in Executive Suite | Also tagged , | 62 Comments
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