Cable / Telecom News

Motorola, Nortel, Zafirovski lawsuit settled


TORONTO - Nortel Networks Corporation today announced that it, Nortel’s new CEO Mike Zafirovski and Motorola, his former employer, have reached a settlement regarding the lawsuit filed October 18, 2005 against the incoming CEO."We worked in good faith to resolve this issue with Motorola and we are very pleased with the successful outcome," said Harry Pearce, chairman, Nortel board of directors. "The Board selected Mike as we believe he is the best candidate to assume the role of president and CEO and we have every confidence in him. We look forward to a great future together." The terms of the...