compaq founders net worth
He will, in fact, study at the University of St. Thomas in Houston. How Rich is Jerry Richardson? (Joseph) Rod Canion - Compaq, Ibm, Corp, and Million, COMPAQ'S GRIP ON IBM'S SLIPPERY TAIL Up against No. The name "COMPAQ" was said to be derived from "Compatibility and Quality" but this explanation was an afterthought. Compaq was hit with two class-action lawsuits, as a result of CFO Earl Mason, SVP John Rose, and other executives selling US$50 million of stock before a conference call with analysts, where they noted that demand for PCs was slowing down. In 1998, Compaq also signed new sales and equipment alliance with NaviSite. [63] While rival Dell Computer had 55% growth in U.S. PC sales in the first quarter of 1999, Compaq could only manage 10%. How Rich is Rod Canion?

[26], Michael S. Swavely, president of Compaq's North American division since May 1989, took a six-month sabbatical in January 1991 (which would eventually become retirement effective on July 12, 1991). Second and last logo of Compaq Computer Corp. as an independent entity. The company's stock had fallen 50 percent since its all-time high in January 1999. [111] Hewlett Packard Buildings #7 & #8, two eight-story reinforced concrete buildings totaling 450,000 square feet, plus a 1,200-car parking garage and a central chiller plant, were all deemed by the college to be too robust and costly to maintain so they were demolished by implosion on September 18, 2011.[126][127][128][129]. [3] Before co-founding Compaq in 1982, Canion, Jim Harris and Bill Murto had been senior managers at Texas Instruments. It was projected to have $2.5 billion in annual cost savings by mid-2004. This was a version of Windows 2.1 adapted for the 80386 processor. However, the combined HP-Compaq struggled and fell to second place behind Dell from 2003 to 2006. He became chairman of the board and later helped the company raise $150 million. [47] This acquisition instantly gave Compaq a presence in the higher end business computing market. [85] The companies would dole out a combined $634.5 million in bonuses to prevent key employees from leaving if shareholders approve the proposed merger, with $370.1 million for HP employees and $264.4 million for Compaq employees. Compaq, which makes IBM-compatible personal computers, reached the ranks of the Fortune 500 in three years, faster than any other company. [4], In 1991, Canion was dismissed by Compaq's chairman, Benjamin M. For the first three months after announcement, the Deskpro 386 shipped with Windows/386. Capellas, Compaq's last chairman and CEO, became president of the post-merger Hewlett-Packard, under chairman and CEO Carly Fiorina, to ease the integration of the two companies. An IBM-made 386 machine reached the market almost a year later. [36], Compaq had been producing the PC chassis at its plant in Shenzhen, China to cut costs.

William H. Murto, who co-founded Compaq Computer Corp. in 1982, is leaving the high-flying maker of personal computers to study religion, the company said Tuesday. [50], Pfeiffer also refused to develop a potential successor, rebuffing Rosen's suggestion to recruit a few executives to create the separate position of Compaq president. He went on to hold senior executive roles at Schlumberger, Benchmarking Partners, SAP, and Oracle Corporation. The software should stand on its merits and be supported and so should the hardware. The information is not available. HP laid off thousands of former Compaq, DEC, HP, and Tandem employees,[100][101] its stock price generally declined and profits did not perk up. [91][92] Walter Hewlett only reluctantly approved the merger, in his duty as a member of the board of directors, since the merger agreement "called for unanimous board approval in order to ensure the best possible shareholder reception". Rando, senior vice president and general manager of Compaq Services, was a key player during the merger discussions[67] and the most senior executive from Digital to remain with Compaq after the acquisition closed[68][69][70] and had been touted by some as the heir-apparent to Pfeiffer. – but they didn't have anything to do with customers. Queens Park Rangers F.C. Murto will be replaced as vice president-sales, a post he has held since 1985, by Ross A. Cooley, who has been the company’s director of corporate sales since 1985.

Total Net Worth at the moment 2020 year – is about $190,3 Million. In 1987, Compaq hit the $1 billion revenue mark, taking the least amount of time to reach that milestone. Net Worth, Height, Weight, Jack Martin Net Worth | Weight, Height, Age, How Rich is Emi Wada?

It was a commercial success, selling 53,000 units in its first year and generating $111 million in sales revenue. He became chairman of the board and later helped the company raise $150 million. Compaq ended up selling the printer business to Xerox and took a charge of $50 million.

In the 1990s, as IBM's own PC division declined, Compaq faced other IBM PC Compatible manufacturers like Dell Computer, Packard Bell, AST Research, and Gateway 2000. This allowed Compaq to compete in the "big-iron market" without incurring the costs of running its own services or software businesses.[46]. [111], On August 18, 2011, then-CEO of HP Leo Apotheker announced plans for a partial or full spinoff of the Personal Systems Group. [18][19][20], Unlike other companies, Compaq did not bundle application software with its computers. The two married in 1979, and for the next 20 years they traveled around the world as Capellas climbed the ranks of each company he joined. Capellas served as chairman and CEO of First Data Corporation, acting CEO of Serena Software, chairman and CEO of Compaq Computer Corporation until its merger with Hewlett-Packard where he became president of the post-merger company briefly, and president and CEO of WorldCom (later MCI) where he led its merger with Verizon. [94] Carly Fiorina, initially seen as HP's savior when she was hired as CEO back in 1999, had seen the company's stock price drop to less than half since she assumed the position, and her job was said to be on shaky ground before the merger announcement. [87] HP's offer was regarded by analysts to be overvaluing Compaq, due to Compaq's shaky financial performance in the past recent years (there were rumors that it could run out of money in 12 months and be forced to cease business operations had it stayed independent), as well as Compaq's own more conservative valuation of its assets. [36][41], Compaq had decided to make a foray into printers in 1989, and the first models were released to positive reviews in 1992. [10][51] Reportedly Compaq had three consulting firms working to integrate Digital alone. Packard further stated that "[Carly] Fiorina’s high-handed management and her efforts to reinvent the company ran counter to the company’s core values as established by the founders". Jackie Lacey vs. George Gascón: Here’s everything you need to know about the L.A County district attorney’s race. Other key executives responsible for the company's meteoric growth in the late 80s and early 90s were Ross A. Cooley, another former IBM associate, who served for many years as SVP of GM North America; Michael Swavely, who was the company's chief marketing officer in the early years, and eventually ran the North America organization, later passing along that responsibility to Cooley when Swavely retired. The name was chosen from many suggested by Ogilvy & Mather, it being the name least rejected. Pfeiffer also made several major (and some minor) acquisitions. 1 of 2 Compaq Computer Co-founders (L-R: Jim Harris, Bill Murto, Rod Canion) with the first Compaq portable computer. Rando's division had performed strongly as it had sales of $1.6 billion for the first quarter compared to $113 million in 1998, which met expectations and was anticipated to post accelerated and profitable growth going forward. This was combined with Hewlett-Packard's ticker symbol (HWP) to create the current ticker symbol (HPQ). Rosen. [87], Analysts on Wall Street were generally critical of the merger, as both companies had been struggling before the announcement, and the stock prices of both companies dropped in the months after the merger agreement was made public. These departures were motivated by an enhanced severance or early retirement, as well as an imminent demotion as their functions were to be shifted to vice presidents. Unlike many startups, Compaq differentiated its offerings from the many other IBM clones by not focusing mainly on price, but instead concentrating on new features, such as portability and better graphics displays as well as performance—and all at prices comparable to those of IBM's PCs. 1, the three-year-old upstart had 1984 sales of about $325 million.

Joseph Rodney "Rod" Canion (born January 19, 1945) is an American computer scientist and businessman, known for being the co-founder of Compaq Computer Corporation where he served as its first President and CEO.[when? The only part which had to be duplicated was the BIOS, which Compaq did legally by using clean room design at a cost of $1 million. Dell became the number-one supplier of PCs in 2001. [11], Last edited on 16 September 2020, at 01:09, https://www.ellines.com/en/good-news/33197-50-wealthiest-greek-americans/, Compaq Announcement of Michael Capellas as President and Chief Executive Officer, "VCE Appoints Praveen Akkiraju Chief Executive Officer", "Cisco Systems, Inc. - Investor Relations - Corporate Governance - Board of Directors", "Michael D. Capellas: Executive Profile & Biography - Businessweek", https://en.wikipedia.org/w/index.php?title=Michael_Capellas&oldid=978623556, Creative Commons Attribution-ShareAlike License, This page was last edited on 16 September 2020, at 01:09. How tall is Rod Canion – 1,61m. The Times endorses one incumbent and three newcomers for the Los Angeles Community College District Board of Trustees. Swavely's U.S. marketing organization was losing ground with only 4% growth for Compaq versus 7% in the market, likely due to short supplies of the LTE 386s from component shortages, rivals that undercut Compaq's prices by as much as 35%, and large customers who did not like Compaq's dealer-only policy.

Endorsement: No on Proposition 14: It’s not the best way to support stem-cell research. For 15.03.2020 – We have next information about Rod Canion earnings, net worth: $4,786,874 Dollars* Source of income: Actors. Before co-founding Compaq in 1982, Canion, Harris, and Murto had been senior managers at Texas Instruments. [125], In 2009, HP sold part of Compaq's former headquarters to the Lone Star College System. You remove the freedom from the dealers to really merchandise when you bundle in software.

At the conclusion, the board was unanimous in picking Pfeiffer over Canion. [71] Mason, senior vice president and chief financial officer, had previously been offered the job of chief executive of Alliant Foodservice, Inc., a foodservice distributor based in Chicago, and he informed Compaq's board that he accepted the offer.

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