Former Compaq Exec Leaves Hewlett-Packard

Jeffrey Clarke, former Compaq CFO and a key figure in the HP-Compaq merger, resigned his post as executive VP of global operations at HP.

Jeffrey Clarke, the former chief financial officer for Compaq Computer and a key figure in the companys integration into Hewlett-Packard, resigned his post as executive vice president of global operations at HP, the company announced last week.

HP officials declined comment on the resignation, other than to say in a statement that it was effective immediately and that it was "mutually agreed to and was appropriate."

During HPs $19 billion purchase of Compaq, Clarke and Webb McKinney, president of HPs Business Customer Organization at the time, led the integration planning team. That group mapped out what the new HP would look like, including which products it would adopt from Compaq and HP and which ones it would let go.

Clarke was also called to testify in April 2002, when Walter Hewlett, then an HP director and one of the founders heirs, went to court to try to block the Compaq acquisition. In testimony, Clarke said the financial goals put forward by HP for the company after absorbing Compaq were not only attainable but would probably be exceeded.