Compaq has dished out stock options to each of its 71,000 employees to encourage the "spirit of innovation" within the company.
Speaking at a European press briefing in London today, company president and chief executive Michael Capellas said that every employee, from the shop floor to top executives, has been issued with options as part of a strategy to speed up innovation.
Despite hitting or exceeding industry expectations with its most recent financial results, Capellas said he still wants Compaq to perform better. "It's a strong improvement, but we're not where we want to be yet," he said.
Although the company's business and consumer divisions are performing well, its commercial PC division needs some attention, said Capellas.
"We need to return our commercial PC business to profitability, complete our plan of cost reduction and continue to develop our management team," he said.
Compaq will also expand its direct sales through the Internet and telephone. "There will continue to be a role for the channel. It depends on the segment of the market. Global accounts prefer to deal direct. The direct business will grow more in the US, but it will grow to about 20 per cent to 25 per cent of our business in Europe," he said.
Werner Koepf, vice president and managing director of Compaq Europe, the Middle East and Africa, said that free Internet access is set to explode in Europe.
"Several Internet service providers have told us that they plan to announce free local calls by the end of this year," he said.
"The high cost of telephone calls is one of the major inhibitors to Internet growth in Europe."
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