Frank Dunn, a former chief executive officer at Nortel who was fired last month as a financial investigation continued at the company, has resigned as a director of Nortel.

In a statement with the SEC, Nortel said the following:

“On May 21, 2004, each of Nortel Networks Corporation (the “Company”) and Nortel Networks Limited (the principal direct operating subsidiary of the Company) received the resignation of Frank Andrew Dunn as a director of each respective company, effective May 21, 2004.”

Nortel stock closed at $3.53 on Tuesday, up 5 cents.