Nortel appoints former Juniper executive George Riedel as chief strategy officer

February 21, 2006

1 Min Read

TORONTO -- Nortel(x) (NYSE/TSX: NT) President and Chief Executive Officer (CEO) Mike Zafirovski today announced the appointment of George Riedel as Chief Strategy Officer.

Riedel will report directly to the President and CEO and will be responsible for leading the Company's corporate strategy including business development and mergers and acquisitions. In addition, Riedel will focus on emerging technologies, market opportunities, and strategic partnerships, and will drive all related key decision-making processes.

"This appointment marks my commitment to maintaining Nortel's technology and innovation leadership," said Zafirovski. "George's extensive knowledge of telecom and technology combined with his business acumen, strategic orientation and M&A experience will complement our strong leadership team and position the company for a successful future as we simplify our business, develop next-generation products and solutions, and focus on long-term, profitable growth."

Riedel joins Nortel from Juniper Networks, where he was vice president, strategy and corporate development leading corporate strategy, business development and mergers and acquisitions. Prior to joining Juniper Networks in 2003, he was a Director at the management consulting firm of McKinsey and Company, where for 15 years he co-led telecom and high-tech practices in North America and Asia. Prior to McKinsey, he was an engineering manager at Exxon Co. USA.

Riedel holds an MBA from the Harvard Business School and a BSME with distinction from the University of Virginia. His appointment is effective February 28, 2006, and he will be based at the Company's headquarters in Toronto.

Nortel Networks Ltd.

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