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Nortel CEO: No 'Fad Diet' In Turnaround Plan

Nortel Networks President and CEO Mike Zafirovski on Tuesday outlined plans to turn around the struggling networking and telecommunications company.

Zafirovski detailed his strategy as Nortel disclosed that it expects a wider loss for its first quarter.

“We’re not putting Nortel on some sort of fad diet. We’re going to make this company leaner, faster and give it more endurance,” Zafirovski said during a conference call on Nortel’s financial outlook. “We know this is a marathon, not a sprint.”

A key piece of the strategy will be the expansion of the Nortel’s channel, particularly in the enterprise IP telephony market, Zafirovski said.

Just six months into his new job as head of Nortel, Zafirovski is charting a course to help the Brampton, Ontario-based company regain its financial strength in the wake of an accounting scandal and several years worth of financial restatements.

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