| |
Nortel Suspends CFO Douglas Beatty pending review of finances
March, 2004 | CRN Canada- Stephanie Levitz
|
|
| |
|
|
| |
Nortel Networks has put its chief financial officer and controller on paid leave while it reviews its financial statements, the company announced this week.
The suspensions follow Nortel’s announcement that it may restate its results for 2003, and some results from quarterly reports.
In December, the Brampton, Ontario company restated results for 2000 through the first two quarters of 2003 due to $900 million in liabilities that were either recorded incorrectly or not properly released in the appropriate periods.
William Kerr will be interim chief financial officer while Douglas Beatty is on leave, and MaryAnne Pahapill will temporarily replace Michael Gollogly as controller, the company said.
|
|
| |
|
|
|
|
