Compaq chairman and acting chief executive officer, Ben Rosen, denied that major restructuring moves were planned, despite rumours of redundancies and analyst?s recommendations that the company be divided into more manageable business units.
However, in the conference call following the release of Compaq?s first quarter results, Rosen also said the company will not for a new leader before making the necessary changes to return to profitability - but he would not detail what those changes would be.
He commented: ?We are currently looking are every aspect of the business and have made no decision to restructure. We want to speed up the decision making process and make the company more efficient.?
Rosen would not go into specifics on why Eckhard Pfeiffer left so suddenly and would only say that the company had not been performing to expectations over the past year.
?It was a combination of issues,? he said.
He would also not be drawn on any details over Pfeiffer?s severance package and whether Compaq would take a charge for this in its next quarter. Pfeiffer is believed to have a potential $300 million value in share options already.
?I?m not a liberty to discuss any severance package,? said Rosen.
He added that the search for a chief executive would not be restricted to candidates already working in the IT industry and that the search would be worldwide.
Rosen said that he was unable to answer many questions in detail as he had only been on office for 48 hours.
?We intend to be open and communicative in the future and perform fully to expectations. This is the best way to patch up with Wall Street,? he concluded.
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