Eckhard Pfeiffer resigned on Sunday as CEO of Compaq Computer Corp., Houston. The resignation was reportedly the result of pressure from the board of directors after Compaq warned that its first-quarter profits would be half of Wall Street’s expectations and the company’s stock had plummeted to a 52-week low.
The pressure is said to be a reaction to Compaq’s inability to respond fast enough to the rise of the Internet.
Compaq is the second-largest computer company in the world. It direct markets computer products through its DirectPlus program on its Web site (http://www.compaq.com).
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