Feeds

Zafirovski to walk from Nortel with 'head held high'

CEO will leave bankrupt firm soon

Combat fraud and increase customer satisfaction

Nortel CEO Mike Zafirovski has said he will soon step down from the stricken firm and "walk out with my head held high."

The ex-Motorola exec, who was brought in to try and drag Nortel back from the abyss, but instead has presided over its collapse and breakup, told the Ottawa Citizen that he had been approached to run other companies.

He said that "obviously I'm not going to be a CEO of a residual company dealing with patent assets and claims."

That is where Nortel is heading, of course, as it auctions itself off slice by slice, after collapsing into bankruptcy in January.

Zafirovski joined the firm is 2005, not long after he'd been passed over for the top slot at Motorola, despite being credited with turning around the lumbering giant's mobile arm.

Nortel was only just beginning to get over the dot com meltdown and a succession of accounting scandals.

However, Zafirovski's efforts were scuppered by yet another financial downturn - which began in 2007 or 2008, depending on your point of view.

Either way, capital spending shrank, as did access to credit, which meant Nortel went into relapse and this time was unable to recover.

"We wanted a great transformation and gave it one hell of a run," he said. "We were on the verge of one, but the world turned upside down."

"But once we got here [into bankruptcy], our goal became 'let's make this one of the better examples of what it's possible to do in Chapter 11."

Funnily enough, Zafirovski lost out for the top job at Motorola to former Sun exec Ed Zander. And we all know how well that turned out. As for Sun, it arguably also never recovered from the dot com crash.

Is there a moral to all this? Only, perhaps, that companies should not find their CEOs from the back of the phone book. ®

3 Big data security analytics techniques

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
AMD's 'Seattle' 64-bit ARM server chips now sampling, set to launch in late 2014
But they won't appear in SeaMicro Fabric Compute Systems anytime soon
Microsoft's Nadella: SQL Server 2014 means we're all about data
Adds new big data tools in quest for 'ambient intelligence'
BOFH: Oh DO tell us what you think. *CLICK*
$%%&amp Oh dear, we've been cut *CLICK* Well hello *CLICK* You're breaking up...
Inside the Hekaton: SQL Server 2014's database engine deconstructed
Nadella's database sqares the circle of cheap memory vs speed
prev story

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.