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March 21, 2010
05:55 EDTNRTLQ, NRTLQNortel Networks announces management changes
With the sale of the company's main businesses and the focus of Nortel Business Services,NBS, and Nortel's Corporate Group on the remaining work previously announced on February 11th, Pavi Binning, Chief Restructuring Officer, Chief Financial Officer and Executive Vice President, and the Board of Directors, have jointly determined that it is an appropriate point for Mr Binning to step down from his position and to depart from the company. Effective March 21, Pavi will step down from his role as CRO, CFO and EVP and for a short period thereafter, Mr Binning will stay on with the company to assist in the completion of the announced business sales and in the transition of certain of his responsibilities. Effective March 22, John Doolittle will assume the role of CFOof the company and Nortel Networks Limited in addition to his current responsibilities leading the Corporate Group. In light of the milestones met to date and the focus of the remaining work, the position of CRO will not be filled.
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