I have found a deep sense of commitment and pride from the Nortel employees and I am excited by the energy generated for our business transformation, integrity renewal and growth activities. I also want to thank our employees and leadership team who have continued to execute with a passionate customer focus in the face of many challenges over the last several years.
More Quotes from Mike Zafirovski:
With his experience at GE, ATT, The Home Depot and Motorola, Dennis brings to Nortel an impeccable business pedigree. As I continue to strengthen the Company's leadership team, it's critical that we have individuals with global business experience working for world-class companies. Dennis will play a key role in driving the cultural and business transformation at Nortel that will be essential to the Company's future success.Mike Zafirovski
Today's agreement in principle is an important milestone for Nortel. We continue to work vigorously on the implementation of our remediation plan and addressing our outstanding regulatory matters. In addition, we continue to improve our governance provisions and financials systems and controls. These are critically important for the company. We remain fully committed to rebuilding value for the benefit of all stakeholders.
Mike Zafirovski
Unfortunately, this was a necessary next step for us to achieve renewal and stay competitive in today's dramatic business environment, particularly given the current slowdown in the economy.
Mike Zafirovski
Now we are ready for the next phase. We have our sights squarely focused on restoring Nortel's credibility, executing a winning plan for profitable growth and recapturing Nortel's position as a great company.
Mike Zafirovski
We have a very tall mountain to climb.
Mike Zafirovski
This is intended to be a growth story and will be a growth story. So though we may be exiting some activities ... we will be reinvesting in places we're going to win.
Mike Zafirovski
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