Nortel Networks Appoints Chief Marketing Officer (email this article)

TORONTO--(BUSINESS WIRE)--Sept. 27, 2004--Delivering on the commitment made on August 19, 2004 to elevate its corporate marketing function to drive overall marketing strategy and accelerate revenue growth, Nortel Networks (Company Profile, Past Stories, Case Studies) (NYSE:NT - News; TSX:NT - News) announced today the appointment of Clent Richardson as chief marketing officer effective October 1, 2004.

Overseeing one of the most prominent telecommunications brands worldwide, Richardson, 43, will lead a newly formed global marketing organization responsible for brand development and management, online presence, solutions marketing, advertising, public relations, sponsorships, promotions, community relations, employee communications and events. He also will serve on Nortel Networks global executive management strategy group, reporting directly to Bill Owens, president and chief executive officer.

"Nortel Networks is at an important inflection point, and we are focused on driving substantial improvement in our business model and the way we address customers," Owens said. "Critical to taking Nortel Networks to the next level is the addition of world-class marketing talent and leadership. We need marketing that is as good as our technology, and elevating Clent Richardson to chief marketing officer is the pivotal first step toward transforming Nortel Networks into a marketing-led organization."

"After spending six months at Nortel Networks, Clent knows the company well, but he retains an outsider's perspective - honed at two leading global technology companies known for their marketing effectiveness - that will serve Nortel Networks well in the years ahead."

Richardson brings to Nortel Networks more than 20 years of international sales and marketing experience with some of the best-known names in IT, global telecommunications and retailing, including T-Mobile and Apple Computer. He joined Nortel Networks in April 2004 to lead enterprise global marketing, charged with transforming the company's enterprise business through solutions marketing and integrated communications strategies. Richardson will retain responsibility for the global enterprise marketing function until a successor is named.

"Nortel Networks is transforming itself from a traditional telecom player into a marketing-centric services, software and solutions company," Richardson said. "The marketing opportunity is to leverage our outstanding technology, unmatched customer base and talented worldwide team to tell our story in a whole different way with the aggressiveness and confidence befitting a leader. My job is to be a catalyst, harness renewed passion from our global team, and drive profitable growth at our competitors' expense."

Richardson joined Nortel Networks from T-Mobile, where he was chief sales and marketing officer and championed an increasingly focused customer-centric strategy. Leading a 1,300-person global team, he directed the development, deployment and communication of the new T-Mobile brand.

Previously at Apple Computer, he reported directly to co-founder Steve Jobs as vice president, worldwide developer relations and worldwide solutions marketing. Richardson and his global team focused on building and strengthening high-touch business relationships between Apple, its developers and customers.

Earlier in his career, Richardson held the title of senior manager of evangelism at Apple, where he built and led a worldwide team managing Apple's global partnerships with Microsoft, Sun, Adobe, AOL, IBM, Lotus and other industry leaders.

Richardson was also a member of Deutsche Telekom's Global Advanced Management Program and received additional executive education directed by the Harvard Business School and the Stanford Graduate School of Business.

As a global innovation leader, Nortel Networks enriches consumer and business communications worldwide by offering converged multimedia networks that eliminate the boundaries among voice, data and video. These networks use innovative packet, wireless, voice and optical technologies and are underpinned by high standards of security and reliability. For both carriers and enterprises, these networks help to drive increased profitability and productivity by reducing costs and enabling new business and consumer services opportunities. Nortel Networks does business in more than 150 countries. For more information, visit Nortel Networks on the Web at www.nortelnetworks.com or www.nortelnetworks.com/media_center.

Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events.

Factors which could cause results or events to differ from current expectations include, among other things: the outcome of Nortel Networks independent review and planned restatement or revisions of its previously announced or filed financial results; the impact of the management changes announced on April 28, 2004 and August 19, 2004; the impact of the inability to meet Nortel Networks filing obligations on support facilities and public debt obligations; the sufficiency of Nortel Networks restructuring activities, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions; continued reductions in spending by Nortel Networks customers; fluctuations in Nortel Networks operating results and general industry, economic and market conditions and growth rates; the communication by Nortel Networks auditors of the existence of material weaknesses in internal controls; Nortel Networks ability to recruit and retain qualified employees; fluctuations in Nortel Networks cash flow, level of outstanding debt and current debt ratings; the use of cash collateral to support Nortel Networks normal course business activities; the dependence on Nortel Networks subsidiaries for funding; the impact of Nortel Networks defined benefit plans and deferred tax assets on results of operations and Nortel Networks cash flows; Nortel Networks dependence on new product development and its ability to predict market demand for particular products; Nortel Networks ability to integrate the operations and technologies of acquired businesses in an effective manner; the impact of rapid technological and market change; the impact of price and product competition; barriers to international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of rationalization in the telecommunications industry; changes in regulation of the Internet; the impact of the credit risks of Nortel Networks customers and the impact of customer financing and commitments; stock market volatility generally and as a result of acceleration of the settlement date or early settlement of Nortel Networks purchase contracts; the impact of Nortel Networks supply and outsourcing contracts that contain delivery and installation provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; the future success of Nortel Networks strategic alliances; and the adverse resolution of litigation, investigations, intellectual property disputes and similar matters.

For additional information with respect to certain of these and other factors, see the most recent Form 10-Q/A and Form 10-K/A filed by Nortel Networks with the United States Securities and Exchange Commission. Unless otherwise required by applicable securities laws, Nortel Networks disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Nortel Networks, the Nortel Networks logo, the Globemark and Business Without Boundaries are trademarks of Nortel Networks.