When Bill Owens took over as chief executive officer of Nortel earlier this year, he promised to craft a new promotion campaign under the direction of a new marketing officer.

Those efforts were unveiled Monday morning with a new slogan and plans for a global marketing effort.

“This is the Way. This is Nortel,” is the slogan crafted by The Richards Group in Dallas, TX.

“Today we’re confirming that marketing is now a strategic asset for Nortel, vital to growing our market momentum by helping us reach customers and prospects about the value we can bring to the world’s most critical communications,” Owens said in a statement. “Our solutions are a catalyst for addressing the most profound challenges facing businesses, consumers and societies.”

Nortel will market the slogan with its first TV advertising since 2001.

The company has been plagued by bad news this year with financial investigations, the ouster of Owens’ predecessor and several financial executives. Nortel continues to review its finances for the past three years and has said it plans to release reports later this month. The firm also is fighing lawsuits and is under investigation by both the Canadian and US governments.

Part of Owens’ efforts to revitalize the company included the hiring of Clent Richardson as Nortel’s chief marketing officer.

“It’s a new day for Nortel,” Richardson said of the campaign. “Starting with this powerful campaign, you’re going to see us get more confident and vocal about who we are and the value we deliver to our global customers. Frankly, people will be surprised when they learn the tremendous impact Nortel is making every day around the world – be it with a financial institution supporting billions of transactions, a city enhancing the experience for residents and visitors through widespread wireless Internet access, or an educational institution sharpening its competitive edge by making the latest technology available to heighten the learning experience.”

Nortel also plans print advertising.

Nortel: www.Nortel.com