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Capellas Quits HP

Palo Alto – Hewlett-Pacakard announced today that Michael Capellas will resign his position as president and his seat on the company’s board of directors.

HP CEO Carly Fiorina said Capellas, who had headed Compaq Computer prior to its acquisition by HP earlier this year, had fulfilled his obligation to the company.

‘We’ve reached a natural transition point. Michael made a commitment to see the merger through, and now thanks to the hard work of the entire team, we are meeting or exceeding all of our integration targets,’ she said.

Capellas will not be replaced and Fiorina will take over his duties.