Ex-Compaq Executives Invest In Tricord
techweb.com
(12/09/98, 7:54 p.m. ET)
By Joe Wilcox, Computer Reseller News
Former top Compaq Computer executives continue to land in the oddest places.
After leading a mass exodus from GK Intelligent Systems in August, Compaq co-founder Rod Canion and friends have moved on to Tricord Systems.
Tricord, based in Plymouth, Minnesota, reached an agreement with the former Compaq CEO earlier this week for a private placement of 3 million shares of stock at $1 per share. The deal closes and will be funded Dec. 18.
Tricord's major software product is designed to make data sharing more transparent across storage area networks.
The company shifted gears from servers to storage in 1997, focusing on solving high-bandwidth Fibre Channel storage, according to a report from Summit Strategies, in Boston.
Along with the investment, Canion brings other former Compaq executives: J. David Cabello, former senior vice president and general counsel, and former marketing executives Kathleen Clark and Lewis Schrock.
Cabello will assume a similar role at Tricord, Clark will become vice president of marketing, and Schrock will become director of product marketing.
Cabello, Tim Harris, a former Compaq vice president, and Jack Sweeny, head of corporate communications, exited Houston-based GK with Canion. Sweeny is working on the Tricord account with an outside PR agency.
Cabello, Clark, Harris, and Schrock all have invested in Tricord. |
