Nortel might see boardroom shake-up
Nortel might see boardroom shake-upNortel might see boardroom shake-up
By Jeffry Bartash, CBS.MarketWatch.com
Last Update: 12:46 PM ET Sept. 29, 2004
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WASHINGTON (CBS.MW) -- Several longtime board members of Nortel Networks reportedly may step down soon as the company moves to repair damage from an accounting scandal and bring in fresh blood.
Nortel (NT: news, chart, profile) has come under increasing pressure from shareholders to revamp its board, according to an article Wednesday in Canada's National Post newspaper. Company officials could not immediately be reached for comment. See story.
As a result, several directors may not run for reelection at Nortel's next annual meeting. That meeting won't take place until after Nortel completes a review of past results and issues revised earnings reports. The company aims to finish the review by the end of October.
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