Business Week: Compaq Board Too Strong For Its Own Good?NEW YORK--(BUSINESS WIRE)--July 1, 1999-- Compaq (Compaq Computer Corporation, Houston, TX, www.compaq.com) Compaq was the leading PC manufacturer when it was acquired by HP in 2002. Founded in 1982 by Rod Canion, Jim Harris and Bill Murto, one year later the company shipped 53,000 PC-compatible COMPAQ Portables, resulting in $111 Chairman Benjamin M. Rosen and his board of directors' tight control of Compaq Computer Corp. (CPQ CPQ Compaq CPQ Conseil du Patronat du Québec (Canada) CPQ Configure-Price-Quote CPQ Conseil de Presse du Québec (Québec Press Council, Canada) CPQ Companion Parrot Quarterly ) is making it hard to attract a top-flight exec for the vacant CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. suite, Business Week reports. The board's first choice, Continental Airlines Inc. President Gregory D. Brenneman dropped out of the running on June 28. Brenneman wouldn't comment, but a source familiar with the negotiations says talks broke down when it became apparent that Rosen wanted to stay chairman and "master puppeteer." That didn't sit well with the airline executive, the source tells Business Week. "In order for Compaq to achieve maximum shareholder value, they need to recognize there's a hurdle HURDLE, Eng. law. A species of sledge, used to draw traitors to execution. in front of them, and it's Ben." Compaq had no comment. |
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