Nortel reshuffles top management

Nortel adds former Cisco exec, shuffles management again, as regulators and law enforcement continue investigating the company's accounting.

Marguerite Reardon Former senior reporter
Marguerite Reardon started as a CNET News reporter in 2004, covering cellphone services, broadband, citywide Wi-Fi, the Net neutrality debate and the consolidation of the phone companies.
Marguerite Reardon

Nortel Networks shuffled its top management on Friday with the appointment of a former executive from Cisco Systems. Nortel, currently the target of criminal and regulatory investigations for accounting problems, named Gary Daichendt president and chief operating officer.

Daichendt worked at Cisco between 1994 and 2000, where he became senior vice president of sales and executive vice president of worldwide operations. In his new role at Nortel, he will oversee Nortel's carrier and enterprise businesses, research and development, and global sales and operations. He will report to chief executive William Owens, who previously held the president title. Owens will work as CEO and vice chairman under the new structure. Nortel also made chief financial officer Peter Currie an executive vice president.