[50], After Pfeiffer's resignation, the board established an office of the CEO with a triumvirate of directors; Rosen as interim CEO and vice chairmen Frank P. Doyle and Robert Ted Enloe III. However, by the end of the eighties many manufacturers had improved their quality and were able to produce inexpensive PCs with off-the-shelf components, incurring none of the R&D costs which allowed them to undercut Compaq's expensive computers. He became chairman of the board and later helped the company raise $150 million. [45] Pfeiffer's vision was to make Compaq a full-fledged computer company, moving beyond its main business of manufacturing retail PCs and into the more lucrative business services and solutions that IBM did well at, such as computer servers which would also require more "customer handholding" from either the dealers or Compaq staff themselves. Ben Rosen provided the venture capital financing for the fledgling company and served as chairman of the board for 17 years from 1983 until September 28, 2000, when he retired and was succeeded by Michael Capellas, who served as the last chairman and CEO until its merger with HP. Jackie Lacey vs. George Gascón: Here’s everything you need to know about the L.A County district attorney’s race. He was intensely loyal to the company. Two weeks after Canion's ouster, five other senior executives resigned, including remaining company founder James Harris as SVP of Engineering. [34][35] Pfeiffer, while transplanting Compaq's U.S. strategy of dealer-only distribution to Europe, was more selective in signing up dealers than Compaq had been in the U. S. such that European dealers were more qualified to handle its increasingly complex products. HP's Jornada PDAs were replaced by Compaq iPAQ PDAs, which were renamed HP iPAQ. The two married in 1979, and for the next 20 years they traveled around the world as Capellas climbed the ranks of each company he joined. [90] While Compaq shareholders unanimously approved the deal, there was a public proxy battle within HP as the deal was strongly opposed by numerous large HP shareholders, including the sons of the company founders, Walter Hewlett and David W. Packard, as well as the California Public Employees’ Retirement System (CalPERS) and the Ontario Teachers Pension Plan. Under pressure from Compaq's board to control costs as staff was ballooning at their Houston headquarters despite falling U.S. sales, while the number of non-U.S. employees had stayed constant, Compaq made its first-ever layoffs (1400 employees which was 12% of its workforce) while Pfeiffer was promoted to EVP and COO. It was projected to have $2.5 billion in annual cost savings by mid-2004. However, the HP EliteBook line became the top of the business notebook lineup while the HP Compaq B series became its middle business line. But other PC makers are fine", "The Compaq Commons Opens at Company's Worldwide Headquarters in Houston; New Facility Includes Advanced Fitness, Wellness Centers and Aggressive End Hunger Project. So we encouraged Compaq to go ahead and just do a 386 machine. Due to Dell's struggles in late 2006, HP has led all PC vendors from 2007 to 2012. – Knowledge@Wharton", "Compaq logs 3Q loss, lowers 4Q target – Oct. 23, 2001", "TechRepublic – A Resource for IT Professionals", "HP hires workers as it lets others go | The San Diego Union-Tribune", https://www.crn.com/news/mobility/231601009/the-hp-compaq-merger-partners-reflect-10-years-later.htm, "Connect at the speed of business: HP Feature story (May 2007)", "HP Debuts HP EliteBook, Expands Business Notebook Portfolio", "LSCS purchases center core of HP north campus", "HP kills TouchPad, looks to exit PC business", "HP to spin off PC business, shutter webOS device division", "HP to Buy Autonomy; Spin Off PC Unit, Stock Dropping", "Lenovo knocks HP from top of global PC market: Gartner", Lenovo Shares Jump As PC Shipments Overtake HP, "Grupo Newsan y HP confirman acuerdo para producir en el paísGrupo Newsan y HP confirman acuerdo para producir en el país", "Compaq presenta su nueva línea de Notebooks con procesadores Intel® Core de 6ta Generación", Compaq Computer Corporation—World Headquarters, Compaq Computer Corporation – World Headquarters, "What Houston means to HP: Tech giant opens former Compaq campus doors for rare tour", "Eckhard's Gone But the PC Rocks On Compaq's CEO blames his ouster on a savagely competitive industry. How Rich is Rod Canion?

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