Nortel sacks three, including CEO

29 Apr 2004

Equipment vendor Nortel Networks has sacked three of its top executives, including CEO Frank Dunn, as the result of an ongoing probe into its accounting practices by regulators in Canada and the US. Nortel refused to comment on the exact reason for the dismissals, saying only that the trio were ‘terminated for cause’. William Owens, a director at the company since 2002, will replace Mr Dunn.