Motorola settles differences with Mike Zafirovski
Worldâ€™s second largest mobile phone maker Motorola has announced that they are settling their lawsuit with their former president Mike Zafirovski. However, it would be costing Mike around $11.5 million cash and he would also have to fulfill some other requirements of his former company. The problems started when Mike accepted the job as the CEO of Nortel Networks Corp.
Motorola then sued their former president claiming that it was not in their interest that a former president moves to a competing company. However, they did not include Nortel as a part of the lawsuit. The latest move has Motorola clarifying that Zafirovski has obligated not to disclose Motorola’s trade secrets and confidential information.
The deal also includes a payment of USD 11.5 million and a promise that Nortel wonâ€™t be hiring Motorola employees now that Mike would be working for them. Nortel on their part have claimed that their hiring did not break any agreements that Mike had with Motorola. Zafirovski on his part said in a statement: “I am pleased that my full focus can now be applied to accelerating Nortel’s business momentum.â€
Nortel has also said that they would be reimbursing the settlement amount Mike is paying his former employer.