named Paul Karr controller.
The Canadian telecom gearmaker said the former
exec will be "chief architect and driver of strengthening the financial controls" at Nortel. Nortel has been mired in a massive restatement for more than a year now. The company said Karr held a similar position at Bristol, a New Jersey-based pharmaceutical house that underwent its own wrenching restatement a few years back.
On Wednesday, Nortel rose a nickel to $2.67.