Nortel’s No. 2 Quits Over Clash With CEO

Nortel Networks Corp. said that its No. 2 executive had quit, just three months after joining the telecom equipment supplier, because of a clash of views with Chief Executive Bill Owens.

The departure of Chief Operating Officer and President Gary Daichendt and the resignation of Chief Technology Officer Gary Kunis, also disclosed Friday, raise concerns about Nortel’s stability, analysts said.

Investors dumped Nortel stock in heavy trading. Shares fell 23 cents to $2.58 in New York.