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Compaq CEO resigns in stunning shakeup
By Mike Yamamoto
Staff Writer, CNET NEWS.COM
April 18, 1999, 1:45 p.m. PT
In a surprise move with ramifications throughout the high-tech world, Eckhard Pfeiffer resigned today as Compaq Computer's chief executive officer.
The unexpected top-level shakeup also included the resignation of Earl Mason as the leading PC maker's chief financial officer.
Until a new CEO is found, Compaq's board of directors has formed a three-man office of the chief executive to oversee daily operations. Chairman Benjamin Rosen and vice chairmen Frank Doyle and Robert Ted Enloe will maintain that office, the company said.
"The board is committed to move quickly to select the right chief executive officer to lead the next era of Compaq's growth and development," Rosen said in a statement released from its Houston headquarters.
"Eckhard Pfeiffer oversaw a period of stunning growth in Compaq's history," Rosen added. "All those who benefited from that growth owe him a debt of gratitude."
Pfeiffer's own comments, included in the same statement, were brief and general.
"Compaq has come a long way since I joined the company in 1983. We are a world leader in personal computing, enterprise computing, and Internet applications," the departing CEO said. "Under Ben's guidance, I know this company will realize its potential, transforming the industry yet again. I am thankful to all employees at Compaq for their support and the chance to work with them."
The company statement added that company treasurer Ben Wells will serve as acting chief financial officer. Mason has indicated that he will become chief executive of a company in an unrelated industry.
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