The chief operating officer of Nortel Networks, Clarence J. Chandran, has resigned for medical reasons. John Roth, president and chief executive officer of Nortel said that, in view of his own plans to retire in 2002, the company has launched a search for his successor as CEO.
Roth said: “Since Clarence is no longer available in our succession planning, I’ll be working with our board of directors to undertake a search for my successor. Our priority is to have my successor in place well before I retire to ensure a smooth and orderly transition.
“I will not be leaving until our annual meeting next year. This gives us plenty of time to recruit a successor and ensure a smooth transition.”
The company had announced in March that, on the advice of his doctors, Chandran was taking a medical leave of absence for up to 12 months to recuperate from surgery to address complications arising from a 1997 stabbing attack in Singapore.
Since Chandran’s medical leave in March, Roth has assumed his responsibilities of day-to-day operations, as well as being president and CEO. He will continue this role until his successor is in place.
Nortel Networks is a global Internet and communications leader with capabilities spanning optical, wireless, local, personal Internet and eBusiness. The company had 2000 US GAAP revenues of $30.3 billion and serves carrier, service provider and enterprise customers globally.