Appaling. Zafirovski is disgracing the remnants of Nortel

by Jeff Wiener on October 9, 2009

Picture 7Every once in a while you come across a business story that makes you shake your head. The entire Nortel debacle is one of those stories. Mike Zafirovski suing his former employer is another.

Read on …

Canada’s flasghip Telecom, Technology, AND business has been wiped out. Granted, Nortel was in major distress when Captain Zafirovski took over, but, he was at the helm when Nortel went under.

It’s obviously quite easy for me to sit in judgement of the awful business decisions made by Zafirovski, and of course, hindsight is always 20/20, so it’s easy to look back and question. Fact is, he didn’t move quickly enough to shore up Nortel’s core competencies. He should have sold many of the core business assets when he had the chance, taken the cash, and strengthened a few of the business units. Sacrifice some to save the others. Instead, he stubbornly hung onto all of the assets and fought like hell to keep up.

And he failed. Fact is he was the captain of the ship.

Now Nortel’s left many former employees without a job, pensioners without a pension, and Canada without it’s once flagship company.

What’s got me pissed – AllAboutNortel.com posted an article yesterday stating that Zafirovski has filed a $12.2 million claim with a US Bankruptcy court asking for 24 months of salary, $3.6 Million in bonuses (and on and on).

What right does he have suing the very company he helped put under ? He helped sink the place, and now he’s staking claim. If there isn’t already, there should be a law against someone benefitting from their own bad deed. There should be some corporate culpability.

The receivers should sue Zafirovski for negligence. Was he negligent ? Might some of his bad business decisions be considered negligent ? Can you sue a former CEO for bad decisions ?

Written by: Jeff Wiener. www.digitcom.ca. Follow TheTelecomBlog.com by: RSS, Twitter, Identi.ca, or Friendfeed

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