Tuesday, February 2, 2010

Nortel Board of Directors

When C.E.O. Mike Z. fled the coop and left Nortel hanging by its fingernails, the board of directors decided to also flee, and left like rats from a sinking ship. The number of directors was reduced to 3. The three people are David Richardson, Jalynn Bennett, and John MacNaughton. Their qualifications, as written on Nortel's website, are shown below.

Interesting to note that John MacNaughton was the founding C.E.O. of the Canada Pension Plan Investment Board. Maybe some of the experience he had in running that,(and perhaps a guilty conscience), will give him a boost to help fix Nortel's pension plan deficit. Maybe he needs a few letters to get him thinking about the plight of the retirees facing major cuts in income from Nortel's Canadian registered defined pension plan.

Nortel Corporate Headquarters
195 The West Mall
Toronto, Ontario
M9C 5K1

Board of Directors


David I. Richardson is a corporate director. He is Chairman of the Board of Air Canada and a Director and Chair of the Audit Committee of ACE Aviation Holdings Inc. Mr. Richardson is the former Chairman of Ernst & Young Inc. (Canada) and a former Executive Partner of Ernst & Young LLP. Mr. Richardson was also a member of the Management and Executive Committees of Ernst & Young LLP, national managing partner of the firm's Corporate Finance practice and the senior partner in the corporate recovery and restructuring practice until his retirement from the partnership in 2002.


Jalynn H. Bennett is President of Jalynn H. Bennett and Associates Ltd., a consulting firm in strategic planning and organizational development in both the public and private sectors. Prior to establishing that firm, Mrs. Bennett was associated for nearly 25 years with The Manufacturers Life Insurance Company. Mrs. Bennett is currently a director of the Canadian Imperial Bank of Commerce, Cadillac Fairview Corporation Limited and Teck Cominco Ltd. She is also a director of The Hospital for Sick Children Foundation. She is a member of the Lawrence National Centre for Policy and Management Advisory Council, Richard Ivey School of Business; the Canada Millennium Scholarship Foundation; the Schulich School of Business and International Advisory Board, York University; the Toronto Society of Financial Analysts; the Toronto Association of Business Economists; the Governance Leadership Council of the Ontario Hospital Association; the National Advisory Board, Canada's Outstanding CEO of the Year and a Member of the Trinity College Endowment Campaign Cabinet. She is a fellow of the Institute of Corporate Directors in Canada, a past Commissioner of the Ontario Securities Commission and was a member of the Toronto Stock Exchange, Canadian Stock Exchange and the Canadian Institute of Chartered Accountants' Joint Committee on Corporate Governance (The Saucier Committee).


John Alan MacNaughton, C.M., served as the founding President and Chief Executive Officer of the Canada Pension Plan Investment Board, a Crown Corporation created by an Act of Parliament to invest the assets of the Canada Pension Plan, from 1999 until his retirement in 2005. He was President of Nesbitt Burns Inc., the investment banking arm of Bank of Montreal, from 1994 to 1999. Mr. MacNaughton is Chairman of Canadian Trading and Quotation System Inc. He is a Trustee of the University Health Network, an academic health science centre. He is a Governor of CCAF-FCVI Inc., a research and education foundation focused on governance, accountability, management and audit in the public sector. Mr. MacNaughton is Chairman of the Canadian Institute of International

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