Compaq appoints CEO for Internet future

Compaq has promoted chief operating officer (COO) Michael Capellas to fill the president and CEO shoes vacated by Eckhard Pfeiffer earlier this year, and warned competitors it now has a momentum to compete through the Internet.

Capellas, who joined Compaq in June as COO from Oracle, received a glowing appraisal from Compaq chairman Ben Rosen. Rosen said that "in just a few short weeks, Michael has solidified our platform for profitable growth and clarified our focus on Internet-centred innovation."

According to Rosen, Capellas has the brief to increase the company's momentum towards being a Web-centred company in both product delivery and the types of products it is selling.

Ironically, it was his predecessor Pfeiffer who actually laid the foundations for the company's restructure towards an ebusiness model.