The Worst CEOs in the Telecom Industry
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Frank Dunn
The Worst CEOs in the Telecom Industry
Dunn is someone who grew up in Nortel Networking Corporation. He joined the company as a management trainee and grew inside the company climbing one ladder after another until he reached the CEO's position in 2001. He was promoted to the position of CFO in 1999 and then post the retirement of then CEO John Roth he became the CEO. Back then, the company was facing severe financial distress and he started his journey by laying off about 60000 of its workforce and write-downs of nearly US$16 billion in 2001 alone. In the first quarter of 2003, when least expected, the company registered profit and gave its top management a bonus of $19 million. This led to suspicion from several experts in the industry and Deloitte & Touche advised audit committee chairman and board chairman to look into the results. That started the infamous accounting scandal that literally ruined the reputation and financial stability of the company forever. Dunn along with some of his colleagues were let go in 2004 and are presently waiting for their court trials to start.

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