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Compaq promotes Capellas to CEO

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Houston--Compaq Computer Corp. Thursday named Michael Capellas CEO. Mr. Capellas, formerly Compaq's COO, steps in for Eckhard Pfeiffer, who was ousted in April by Chairman Benjamin Rosen and the board of directors. Mr. Capellas is charged with righting Compaq's listing ship, which has suffered as the company has tried to establish a direct sales model while maintaining its traditional commitment to resellers. Compaq is expected to report a second-quarter loss of $250 million next week, according to The Wall Street Journal. Additional turmoil at Compaq involves the marketing department, where Andrew Salzman, VP-worldwide advertising and brand strategy, resigned abruptly last week.
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