TORONTO-Just three months into his tenure, Nortel Networks Corp.’s president and chief operating officer quit the company due to clashes with the company’s chief executive, Bill Owens.
“Gary (Daichendt) has made a major contribution to Nortel during his time here and has added value to our strategic initiatives and business plan,” Owens said. “It has become apparent to Gary and me, however, that we have divergent management styles, and our business views differ. I respect him for his decision, and I wish him every success in his future endeavors.”
Gary Kunis, Nortel’s chief technology officer, is also leaving the company. Kunis joined Nortel with Daichendt; the two worked together at Cisco Systems.
Owens, Nortel’s vice chairman and CEO, will take over Daichendt’s position as president and COO. The company did not fill the CTO position. A Nortel spokesman said the company hasn’t made a decision on hiring a new COO or CTO.
The company’s stock was down almost 8 percent on the news to about $2.59 per share.
Nortel’s executive changes follow an accounting scandal that led to the replacement of several top executives, including the company’s former chief executive, Frank Dunn.
