Report: Nortel’s Top Exec Made $8.27M in 2006

RESEARCH TRIANGLE PARK, N.C. – Mike Zafirovski, chief executive of Nortel, made $8.27 million in 2006, according to the Ottawa Citizen.
Citing recent regulatory filings, the newspaper said Zafirovski was not alone in Nortel execs receiving compensation packages worth more than $1 million.

Joel Hackney, Nortel’s top executive at its operations in RTP, received $1.69 million.

Chief Financial Officer Peter Currie received $2.25 million. Other top packages included $2.19 million for Richard Lowwe, head of carrier operations, and $2.11 million for Dion Jonnou, top executive for North American operations.

The Citizen also reported that Brandes Investment Partners, a hedge fund based in San Diego, increased its ownership stake in the firm to 10.8 percent last year from 5.4 percent. Brandes is the largest Nortel stockholder.