GECs
Canada’s Nortel Networks forms JV with LG Electronics
MUMBAI: Canadian telecom giant Nortel Networks and South Korea’s LG Electronics have established a joint venture for the development of telecom equipment and networking solutions.
The agreement was signed in Seoul, South Korea by LG Electronics CEO S.S. Kim and Nortel vice chairman and CEO Bill Owens. The joint venture will be tentatively named LG-Nortel Co. Ltd. This entity will combine the telecommunication infrastructure business of LG Electronics and the distribution and service business of Nortel in South Korea.
The LG-Nortel joint venture will support the strategies of both companies for ongoing development of leading-edge wireline, optical, wireless and enterprise communications and networking solutions to ignite and power global commerce. It will also reflect the companies’ commitment to leveraging best-in-class resources and expertise by joining forces with leading players in key markets, while harnessing the technology leadership of South Korea, states an official release.
Nortel will own 50 percent plus one share in the joint venture, in exchange for which Nortel will contribute its South Korean distribution and services business and pay $145 million and other non-monetary consideration. Separately, LG Electronics may be entitled to payments over a two-year period based on achievement by the joint venture of certain business goals.
LG Electronics and Nortel will nominate certain key executives to the management team of the joint venture. It is the intention of the parties to nominate JR Lee from LG Electronics to be chief executive officer and Paul House from Nortel to be chief operating officer. The LG Electronics Infrastructure business and Nortel’s South Korean operations had aggregate revenues of KRW 600 billion ($530 million) in 2004, the release adds.
Closing of the transaction is subject to satisfaction of certain conditions, including regulatory and other approvals, and is anticipated by year end. J. P. Morgan advised Nortel and Lehman Brothers and Woori Securities advised LG Electronics in this transaction.
GECs
‘I wasn’t enjoying it’: Why ex-Colors CEO Raj Nayak quit at his peak
Former TV and media executive says happiness, not hierarchy, defines leadership
MUMBAI: Former television executive Raj Nayak, once among the most powerful figures in Indian broadcasting, has offered a candid reflection on leadership, ambition and the decision to step away at the height of his career.
Speaking on the ThinkRight Podcast, Nayak dismissed corporate titles as hollow constructs, arguing that designations are often mistaken for identity. Leadership, he said, has little to do with hierarchy and everything to do with character.
Despite holding senior roles across Star TV, NDTV and Colors, Nayak described his career as largely unplanned. He said progress came not from strategy but from effort, adding that his only constant was giving each role his full commitment.
One of the most formative moments, he recalled, came in 2001 when he quit his job and spent nine months fighting a non-compete case in the Mumbai High Court. The sudden loss of structure and support, he said, exposed how dependent he had become on corporate machinery.
That period also shaped his public persona. The nickname “Raj Cheerful”, later adopted across social media, became a defining trait within the industry, with actors such as Hrithik Roshan embracing it as part of his identity. Over time, Nayak said, the label evolved from an affectation into a lived philosophy.
Nayak also addressed his decision to leave his role at the peak of his influence, a move he described as deeply counter-cultural in corporate India. From the outside, he said, everything appeared perfect. Internally, it was not. After months of unease, a conversation with his family proved decisive, pushing him to act on values he often spoke about publicly.
“People don’t quit jobs at their peak… I was doing everything perfect… but I knew I was not enjoying it,” he added.
Reflecting on success, Nayak argued that power and visibility offer no assurance of fulfilment. Happiness, he said, is a more reliable measure. Overcoming fear and greed, he added, remains the hardest test of leadership and of life.
