Rod Canion, co-founder of Compaq Computer Corp and the company’s president and chief executive officer has been ousted from the company. In what looks like a coup by the board, Eckhard Pfeiffer executive vice president and chief operating officer has been elected president and chief executive officer in Canion’s place. The surprise move came during a week when Compaq had reported a shock $70.2m loss and a restructuring that will involve 150 job losses and will split the company into two divisions. When Pfeiffer became chief operating officer in January this year – previously he had headed up the European operation – it was suggested that Canion would concentrate on long-range plans for the company. What is not clear at this point is where all this leaves negotiations for a possible merger with DEC – was that deal Canion’s swan-song or Pfeiffer’s ace?
