TORONTO -- Nortel Networks Corp. has announced it will dissolve its Office of the Chief Executive, the three-member...
March 1, 2002
TORONTO — Nortel Networks Corp. has announced it will dissolve its Office of the Chief Executive, the three-member team set up last year to help in the transition of Frank Dunn as he succeeded John Roth as president and CEO. The company has also announced that Roth will step down as a director of the board.
The Office of the Chief Executive, which was created on November 1, 2001, consisted of Frank Dunn, Lynton Wilson and John Roth.
Speaking on behalf of the Nortel board, Wilson said, “The Board feels the Office of the Chief Executive is no longer required. This is a strong vote of confidence in Frank Dunn and his team.”
In connection with the dissolution of this office, Wilson has returned to his former position as non-executive chairman of the board. Roth, currently a director and non-executive vice chairman of the board, has decided not to stand for re-election to the board at the company’s April 25, 2002 shareholders’ meeting.
Nortel has also announced that William Owens, a former vice chairman of the U.S. Joint Chiefs of Staff, has joined the board of directors.
Owens is currently vice chairman of the board and co-chief executive officer of Teledesic, LLC. Prior to assuming his current position in August 1998, Owens was president, COO and vice chairman of Science Applications International Corporation (SAIC).