Nortel Networks names Mike Zafirovski as their new executive
The North Americaâ€™s largest telephone-equipment maker has announced their new CEO in the form of former Motorola Inc. executive Mike Zafirovski. The company is struggling with their image in the market is trying to recover customers after an accounting fraud. Mike had left his position at Motorola in January after being passed over for the CEO job.
He would be taking over from Bill Owens, 65, as president and CEO on Nov. 15. Owens headed the company for a period of spending 18 months unwinding an accounting fraud that dated back to 1999. Nortel needs the expertise of someone like Mike Zafirovski who helped Motorola turn around their mobile phone unit. As a result, Motorola is the now the second largest supplier of mobile phones in the world and is rapidly catching up with Nokia.
Mike would now have the tough task of fixing Nortelâ€™s image in the market and revive their market to get the sales and profits on track. Zafirovski is a native of Macedonia and is highly regarded for his working ethics in the market. Nortel should benefit a lot from his experience and knowledge.