June 23, 1999 6:05 PM PDT
Compaq board may get CEO short list
The three-member search committee that is seeking to fill the vacant post is expected to update the board on its progress and may provide a short list of candidates, one source said. Although the search has been underway since April, sources said board members have not been presented with any names.
One executive frequently mentioned for a top spot in the PC industry is George Fisher, CEO of Kodak.
Compaq has been without a CEO since Eckhard Pfeiffer was ousted from the top position after sluggish sales and a poor earnings performance.
Board chairman Benjamin Rosen and vice chairmen Frank Doyle and Robert Ted Enloe formed a three-member office of the CEO to handle the company's daily operations. That group has begun a major reorganization of its business units, replacing top-level executives while coping with back-to-back quarters that surprised Wall Street with lower-than-expected earnings.
"These three are not caretakers. They're not waiting to make the changes that need to be done until a CEO is named. In this industry, you have to move fast. And even if they named a CEO tomorrow, he would need at least six to nine months to learn the company and the culture," a source said.