Nortel CEO Mike Zafirovski outlined a series of short-term priorities to build shareholder value that include a focus on Business Transformation, Integrity Renewal and Growth Imperatives.
The company’s Business Transformation plan is focused on simplifying Nortel’s business, improving quality, reducing direct and indirect costs, and generating new revenues.
With respect to Integrity Renewal, the company remains focused on effective governance, improving internal controls and ensuring the integrity of financial information.
As part of Nortel’s Growth Imperatives, Zafirovski has set a goal to pursue market opportunities where the company can achieve a leadership position and at least 20 percent market share. “We have a team currently conducting a full review of our R&D priorities and investment areas,” he said. For example, Nortel has made decisions to significantly increase investment in the promising areas of IMS, WiMAX, and IPTV, redirect funding from its services edge router and sell certain assets of its Blade Server Switch Business Unit. “You can expect us to continue to share details related to R&D prioritization as decisions are made over the next 12 months,” said Zafirovski.
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