Compaq's Capellas Says Packard Vote Won't Alter Strategy
By Craig Zarley
CRN
Houston - 12:25 PM EST Tues., Dec. 11, 2001
Compaq Computer Chairman and CEO Michael Capellas said the Packard Foundation's decision to vote against the proposed merger with Hewlett-Packard wouldn't alter Compaq's long-term goals.
In a memo sent to Compaq employees just hours after the Packard Foundation's thumbs-down vote last Friday, Capellas said, "Although we are disappointed, we continue to believe that the merger is in the best interest of shareholders, employees, customers and partners. Our responsibility is to maintain a pragmatic view of our business and a clear focus on the future."
He continued to say that Compaq's objectives going into the merger,to extend the enterprise, achieve critical mass in its global services business and improve the economics of its PC business,have not changed.
"Regardless of the circumstances, whether we are part of the new HP or a stand-alone company I am confident in our ability to achieve these objectives," he said. |
