Like the proverbial stone that gathers no moss once it starts rolling, Nortel Networks Corp. (NT) is watching the end of its own journey approach very quickly, now that it’s decided to sell its assets in pieces. Of the many questions surrounding this not-so-shocking turn of events, the most pressing is, who was responsible for the once-venerable telecom equipment maker’s demise?
Certainly CEO Mike Zafirovski holds a great deal of responsibility. The Nortel board also is to blame for failing to hold Zafirovski accountable and pushing him to do what he was brought on board in 2005 to do: turn the financially struggling, scandal-ridden company around.
Blogger Mark Evans said it well: “Truth be told, Nortel could have been saved if the right moves had been made. … Mike Z. was handed a huge opportunity to make his mark. Unfortunately, he dropped the ball and, as a result, Canada’s flagship high-tech company is going to disappear.”