John Roth, Frank Dunn, and Mike Zafirovski
Company: Nortel Networks (1997- 2001), (2001 – 2004), (2005- 2009)
Biggest asshole moments: Overestimating executive bonuses while withholding severance pay to former employees.
This trio of terror was heavily criticized for terminating over 60,000 employees, awarding themselves ridiculous raises, and dropping Nortel’s market value from $398 billion to less than $5 billion. With that said, it’s shocking to see Nortel’s still in business. After massive layoffs occurred and company stocked crashed in 2000, Roth sold his options and walked away with $135 million. Dunn carried on the CEO tradition of personal gain by overestimating executive bonuses by $19 million and cashing in on $5 million alone, until investigators discovered he wrongly booked $3 billion in liabilities and the board was fired. Finally, Zafirovski withheld severance pay from the unemployed and chose not to finance the company’s pension fund, all while giving himself a pay increase of $10 million. Monkey see, monkey do.