Paul Karr, a former finance executive with Bristol-Myers Squibb, is the new controller at Nortel, the company said in an SEC filing on Thursday.

Karr, who will receive a base salary of $375,000, replaces Karen Sledge. Sledge had held the controller post on an interim basis since February.

Karr has also worked for General Electric and Deloitte & Touche.

Nortel: www.nortel.com