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Owens steps down, Motorola’s Zafirovski named new boss at Nortel

Nortel Networks Corp.'s board of directors today appointed Mike Zafirovski as its new president and CEO, effective ...


October 17, 2005  


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Nortel Networks Corp.’s board of directors today appointed Mike Zafirovski as its new president and CEO, effective Nov. 15.

“Mike has the kind of proven, team-building leadership that has seen him create significant new value during his career in two of the world’s most important global corporations,” said Harry Pearce, Nortel’s chairman of the board, Nortel. “He’s the right leader to build on the important work of Bill Owens – and take Nortel to the next level.”

Zafirovski, 51, has a 30-year career of leadership with both General Electric and Motorola.

From 1975 to 2000, Zafirovski served with General Electric in a succession of senior executive positions in a number of the company’s key divisions including president and CEO, GE Lighting; president, GE Capital Mortgage Corp.; and president and CEO, GE Capital Fleet Services.

In 2000, Zafirovski joined Motorola, first as president and CEO of the Personal Communications Sector, and from 2002 to 2005, as president and COO of Motorola.

“As Nortel has said over the past many months ‘We are Playing to Win’ and Mike’s coming on board is a most important step along that path,” said Owens.

“We are on a very stable, solid footing, with a rebuilt and strong senior management team, are back to regular financial reporting, and are growing business in some of the most important markets in the world.”