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Nortel Networks has selected Gary Daichendt formerly of Cisco Systems as its new president and COO.

Nortel's former president Bill Owens will continue as CEO as well as become vice-chairman. CFO Peter Currie will become executive vice-president.

According to a CNEWS article,

"The senior management shuffle was designed to "strengthen the company's leadership team, drive global operational excellence and position Nortel for the future," the company said in a release.
Daichendt will be responsible for leading Nortel's carrier and enterprise businesses, research and development, services and supply chain functions and global sales and operations, the company said."

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