May 11, 1999 8:25 AM PDT

Compaq exec steps down

Compaq Computer today announced that John Rando, a senior executive at the company's services' unit, will be stepping down.

Rando served as senior vice president and general manager of Compaq Services and will resign July 1.

Rando's resignation comes less than a month after the ouster of chief executive Eckhard Pfeiffer by chairman Ben Rosen and other directors because of the company's sagging fortunes. At the time, chief financial officer Earl Mason also resigned.

Compaq insisted, however, that Rando's resignation is unrelated to the shakeup. Compaq's services' unit is considered one bright spot for the company's recent turbulent performance.

For the first quarter, service sales were strong, pulling in $1.6 billion compared to $113 million last year. When the company reported its financial earnings for the quarter in late April, it said the services business performance met its expectations. The company said it expects the unit to post accelerated and profitable growth going forward.

"Rando is stepping down to pursue personal interests," said Compaq spokesman Alan Hodel. "His decision to leave had absolutely nothing to do with [the shakeup]."

Compaq said the company is aggressively trying to find a successor and that Rando will help during the executive search.

"[Rando] built one of the most motivated and successful service organizations in the computing world," Compaq's acting chief executive Ben Rosen said in a statement. "[He] leaves the services organization in a strong leadership position, with major customers recognizing our vast capabilities in the sector."

The world's second largest computer maker said the services unit has a work force of 27,000 people in more than 113 countries.

"We will continue to build on the strong foundation of the services organization--a vital element of Compaq's future success," Rosen said.

 

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