C-Level Shake-up at Nortel
The departures of President and COO Gary Daichendt and CTO Gary Kunis are effective immediately. Both men, who previously held posts at a number of large IT firms, including Cisco (Quote, Chart), were just hired by Nortel in March.
"Gary has made a major contribution to Nortel during his time here and has added value to our strategic initiatives and business plan," CEO Bill Owens said of Daichendt in a statement. "It has become apparent to Gary and me, however, that we have divergent management styles and our business views differ."
Owens, a former U.S. Navy admiral hired by the Canadian company to right the ship after an accounting scandal, will assume the president and COO responsibilities for now.