Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
Nortel Networks has appointed Mike Zafirovski as president and CEO to replace Bill Owens who has held the position since April 2004.
Owens was a non-executive Nortel director who took on the top job after the previous holder, Frank Dunn, was dismissed along with other senior executives over an accounting scandal. His appointment was widely seen as a stop gap. However he has fulfilled anything but a caretaker role, having presided over two major restructurings of the organization, the most recent of which was announced earlier this month.
Nortel chairman, Harry Pearce was fulsome in his praise of Owens' performance over the past 18 months. "At a moment of great challenge and enormous need in the history of this company, the board turned to one of its own, whose long career embodied the highest levels of trust, integrity and distinguished leadership. We needed an experienced, steady hand and Bill delivered. On behalf of our Board, our employees, investors, partners and customers, we will be forever grateful."
Zafirovski, 51 was with General Electric from 1975 to 2000 in senior executive positions in a number of the company's divisions: president and CEO, GE Lighting; president, GE Capital Mortgage Corporation; and president and CEO, GE Capital Fleet Services. In 2000 he joined Motorola as president and CEO of the Personal Communications Sector, and from 2002 to 2005, was president and COO.
He was tipped to take the Nortel top job when he Motorola early this year.
David Bass
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