Nortel Plans Senior Management Changes Effective March 14

TORONTO -(Dow Jones)- Nortel Networks Corp. (NT) has made a number of senior management changes, including naming Chief Executive Bill Owens to the added position of vice-chairman, with Gary Daichendt taking over Owens' current title of president.

In a news release, Nortel said Daichendt, previously executive vice-president, worldwide operatons at Cisco Systems Inc. (CSCO), will also become chief operating officer.

The appointments are effective March 14.

Nortel also said Peter Currie, who was named chief financial officer effective Feb. 14, will become executive vice-president and chief financial officer. Pascal Debon, president, Carrier Networks, will assume the role of special adviser to the vice-chairman and chief executive.

The appointments are all effective March 14.

Owens has also been named vice-chairman and chief executive of Nortel Networks Ltd., the company's principal operating subsidiary. Daichendt and Currie have been named president and chief operating officer and executive vice- president and chief financial officer, respectively, of Nortel Networks Ltd.

Nortel is a networking communications company.

Company Web Site: http://www.nortel.com

-Judy McKinnon, Dow Jones Newswires; 416-306-2100

(END) Dow Jones Newswires"

Posted to the site on 4th March 2005