I was flipping through the proxy materials from Nortel and noticed a table on page 13 that listed the officers of the company.
Only one officer, the treasurer, has been in their role more than a few years. Of the 28 listed executives, just one was appointed in 2004, 12 in 2005 and 14 in 2006. Flip ahead to the executive compensation chart on page 30 – the favourite page for the voyeurs among us – and not one of the top paid people has been around long enough to show more than their 2006 pay. Usually, this table has 3 years of information.
The proxy statement is further evidence that the industry is seeing a new Nortel.
We’ll be hearing from Nortel CTO, John Roese, speaking as our closing speaker at The 2007 Canadian Telecom Summit in June.