Nortel Poaches Juniper Strategist
Riedel, who "will be responsible for leading the Company's corporate strategy including business development and mergers and acquisitions," according to Nortel, joins from Juniper Networks Inc. (NYSE: JNPR), where he was vice president, strategy and corporate development. Previously, he was with McKinsey & Co.
Riedel's role at Juniper has been taken by Spencer Greene, who has been at the company for six years. (See Juniper Names New Execs.)
Nortel's Chief Strategy Officer (CSO) position has been vacant since the previous CSO, Dion Joannou, was appointed as president, North America, in a management reshuffle last September. (See Nortel Reorganizes Again .)
Nortel declined to comment on whether identifying potential acquisition targets will be top of Riedel's "Things To Do First" list.
Riedel is the latest in a series of high-ranking appointments made by Nortel CEO Mike Zafirovski since he took the helm last November. (See Nortel Appoints New CEO , Nortel Appoints CPO, Nortel Appoints EVP, Nortel's New Faces Face Tough Task, Nortel's Clent Came & Went, Nortel Hires Legal Eagle, Nortel Hires Quality SVP, and McFadden, Spradley out at Nortel.)
A couple of Zafirovski's new hires have been from one of his former employers, General Electric Co. (NYSE: GE), but under the conditions of his own appointment the new CEO can't poach any of his former Motorola Inc. (NYSE: MOT) colleagues. (See Nortel, Moto Settle on Zafirovski .)
It hasn't just been Nortel's appointments that have captured attention since Zafirovski took over. During the past three months the company has made an acquisition, forged a major broadband alliance, and announced a monster payout to settle outstanding lawsuits. (See Nortel Takes $2.5B Hit, Nortel & Huawei: Broadband Buddies, and Nortel Takes Tasman for $100M.)
The vendor has also been subjected to public criticism by some of its vendor partners. (See ECI: Nortel Didn't Deliver and Avici Downsizes to Survive.)
— Ray Le Maistre, International News Editor, Light Reading