TORONTO (Reuters) - Nortel Networks said on Monday its chief executive will step down immediately and its board will shrink from nine directors to three as the bankrupt telecom equipment maker works to sell off all of its major assets. Nortel expects to get bids setting minimum prices for all of its divisions by the end of September, moving it closer ...

Mike Zafirovski is stepping down as CEO of Nortel Networks, which is currently liquidating Additionally, Nortel's board of directors will be reduced from nine to three. Zafirovski was named CEO in 2005 after serving as an executive at Motorola Inc. and General Electric ...

NEW YORK (Reuters) - The chief executive of bankrupt Nortel Networks Corp <NRTLQ.PK>, Mike Zafirovski, plans to leave the company soon after leading it through four years of tumult, the Wall Street Journal reported on Friday, citing people familiar with the matter. The newspaper said Zafirovski's departure would come in a matter of weeks, not months. Nortel ...