Nortel Strategy to be Unveiled Soon

I had a chance to sit down with Nortel chief strategy officer George Riedel earlier today at the Canadian Telecom Summit. For investors and analysts looking for the company to articulate its strategic plan with more details about what markets it plans to focus on and how its R&D budget will reflect this direction, Riedel said a strategic review process known as Session 2 will be completed within the next three to four weeks – which means it will likely not be ready for primetime until after the AGM on June 29. When asked if Nortel actually had a strategic vision, Riedel said: "Yes, but it's still work in progress. How much we can comment on terms of level of specificity will always be a challenge but [the strategic plan] is coming". Riedel, who was hired away from Juniper Networks, told Reuters that Nortel is still on ways to work with Huawei Technologies after a proposed joint venture recently fell apart.

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No Responses to “Nortel Strategy to be Unveiled Soon”

  1. MoneyGames Says:

    6/27/06 – now we know the strategic plan:
    – cut rank and file pensions
    – eliminate retiree medical contributions in the USA
    – don’t give employees the time or tools to make the best personal decision before 1/1/06
    – eliminate 800 jobs and move them out of the USA and Canada
    – eliminate another 1100 jobs
    – this probably isn’t all either.

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