Nortel has terminated the contracts of its chief executive Frank Dunn, chief financial officer Douglas Beatty, and controller Michael Gollogly.
William Owens, former head of Teledesic, will replace Dunn, who has been 'terminated for cause', according to a statement.
"As far as we are concerned, it's business as usual," said Ben Roome, a Nortel representative.
Darren Scully, commercial director at VAR Nexus Open Systems, said: "The changes may have a long-term effect, but it might be a storm in a teacup."
William Kerr and Mary Anne Pahapill were named as chief financial officer and controller.
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