Compaq ousts its legendary chief

Article Abstract:

Compaq Computer Corp's board of directors replaces Joseph 'Rod' Canion, the company's president and CEO, with Eckhard Pfeiffer, who engineered Compaq's foreign operations into a $2 billion business. Canion, acknowledged as an industry 'legend' for building Compaq into the fastest rising company in the history of American business, has been deemed responsible for the recent decline of its market share. Like most computer industry giants, Compaq suffers from the stiff competition posed by smaller companies that are able to sell comparable products at much lower prices. Canion apparently was too slow in cutting costs and delivering the new products necessary to reverse the negative trend. Pfeiffer, who was chief operating officer before he was appointed to the top post, made the decision to cut Compaq prices. Under his helm, Compaq's corporate culture is expected to veer away from Canion's consensus-style to a more autocratic style.

Appointments, resignations and dismissals, Chief executive officers, Stock, Financial Report, Pfeiffer, Eckhard

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Compaq's former chief forms consulting firm

Article Abstract:

Former Compaq CEO Joseph R. Canion has founded a new consulting firm that will advise companies on management and technology issues. The company will bring together experts in computer services, business operations and employee management. Many large corporations including IBM, Electronic Data Systems and Computer Sciences Corp offer management advice. Canion reviewed between 30 and 40 other business opportunities before deciding on the new venture. He will act as chairman of the company, while Ronald L. Fischer will be CEO and president. Canion and former Compaq co-founder James Harris each contributed $500,000 to finance the new Houston-based company.

Consultants (Persons), Management Style, Consultants, New Company

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