Compaq Names New Management Team
Compaq Computer Corp. named a new senior management lineup to lead the company after it merges with Digital Equipment Corp. The company also confirmed that Digital’s chief executive, Robert Palmer, will resign after the acquisition, a move that was expected. Compaq President and Chief Executive Eckhard Pfeiffer spelled out the team of more than a dozen executives who will run the combined operations of Compaq, Digital and Tandem, another company Compaq acquired last year. The changes, which draw executives mainly from Compaq and a handful from Maynard, Mass.-based Digital and Tandem, will take effect today after the vote by Digital shareholders to approve the deal and the merger’s closing, which should shortly follow. Shares of Houston-based Compaq fell $1.06 to close at $28.69 on the New York Stock Exchange.