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... nd is responsible for recommending to the Board the independent accounting firm to be retained for the coming year. This Audit committee meets periodically and privately with the independent accountants, the internal auditors, and with Compaq management to review accounting, auditing, internal control structure and financial reporting matters. Chairman Benjamin M. Rosen and directors and vice chairmen Frank P. Doyle and Robert Ted Enloe, III, currently constitute the Office of the Chief Executive.
Rosen is serving as acting CEO, and together with Doyle and Enloe, is actively involved at Houston headquarters in the daily direction and operations of the company pending the selection of a new Chief Executive Officer. Senior Vice President and General Manager, Europe, Middle East and Africa Andreas Barth directs all of the company's business activities across Western and Eastern Europe, middle east and Africa. Senior Vice President Information Management and Chief Information Officer Michael D. Capellas oversees Compaq's worldwide information systems operations. Senior Vice President, Human Resources and Environment Hans Gutsch is responsible for the company's worldwide human resource functions and environmental policies... Senior Vice President and General Manager, Worldwide Sales and Marketing Michael Heil is responsible for Compaq's six sales and marketing regions, global accounts, and marketing communications.
Vice President & Group General Manager, Consumer Products Group Mike Larson currently oversees Compaq's Consumer business, which includes the Presario Internet PCs, Internet Services and Consumer Peripherals. Finance and Administration and Chief Financial Officer (acting) Ben Wells is responsible for treasury, auditing, control and accounting, investor relations and operating services. Senior Vice President, Corporate Marketing Enrico Pesatori is responsible for managing corporate marketing initiatives worldwide. Rod Schrock is the President and Chief Executive Officer of AltaVista Company Senior Vice President and Group General Manager, Services John Rando oversees Compaq Services, which includes DIGITAL, Compaq and Tandem service organizations. Senior Vice President and Group General Manager, Enterprise Computing Group John T.
Rose is responsible for the Enterprise Computing Group, which includes server products, workstations, storage products, networking products, enterprise solutions, Internet products, strategic marketing and strategic partnerships. Senior Vice President, General Counsel and Secretary Thomas Siekman is responsible for all legal matters worldwide. Senior Vice President, Technology and Corporate Development Bill Strecker is responsible for charting the company's long-term strategic planning process, including new technology directions and strategic relationships. Senior Vice President, Supply Chain Management Edward Straw is responsible for reengineering, integrating and optimizing the supply chain elements of Compaq's business, from demand-forecasting through sourcing, production planning, manufacturing, order processing, distribution and logistics.
Senior Vice President and Group General Manager, PC Products Group Michael Winkler is responsible for the divisions within the PC Products Group, including desktop PCs, portable PCs, PC options, small and medium-size business solutions, and DIGITAL Desktop and Portable PC divisions. Compaq has continued growing in the computer industry especially during 1997 when Compaq acquired Tandem Computers Inc. , who has always been known as a global leader, and the utilization of the strategy of "build-to-order" reducing inventory costs, the time it takes to place an order to when its fulfilled, and improved competitiveness. Sales/Assets The increase in the revenue for 1998 was primarily the result of the acquisition of Digital and strong growth in the consumer business. Products revenue for 1998 increased approximately $ 3. 3 billion or 13. 5 % over the prior year as compared with an increase of $ 4. 5 billion or 23. 0 % during 1997.
Products revenue in 1998 reflected a growth in worldwide unit sales of 25. 1 %, compared to 42. 9 % in 1997. Products revenue for North America in 1998 grew $ 310 million over the prior year as compared with an increase of $ 2. 7 billion during 1997. Products revenue in North America represented 49. 0 %, 54. 3 % and 53. 3 % of total products revenue in 1998, 1997 and 1996, respectively. But, despite its product revenue increase there was a decrease in the commercial product revenue.
The decline in commercial products revenue was related to the aggressive price reductions and promotional activities implemented primarily in North America in the first half of 1998 due to the transition to the optimized distribution model, lower than expected sales out of the channel, and to respond to competitive pricing conditions. The third and fourth quarter revenues were negatively impacted by the implementation of product migration strategies and the realignment of the sales and marketing organizations as described above. Products revenue growth in 1997 related to strong year-over-year growth in both the commercial and consumer markets, with the most significant commercial product growth relating to enterprise products, most notably servers and workstations. Products revenue for Europe, Middle East and Africa (EMEA) in 1998 grew $ 2. 4 billion or 30. 2 % over the prior year as compared with an increase of $ 1. 4 billion or 21. 6 % during 1997. Products revenue in EMEA represented 37. 0 %, 32. 3 % and 32. 6 % of total products revenue in 1998, 1997 and 1996, respectively. Products revenue growth in EMEA in 1998 was the result of both the acquisition of Digital and strong year-over-year growth in consumer and commercial products revenue, partially offset by more competitive pricing.
Products revenue in 1997 reflected an overall improvement in market share and strong year-over-year revenue growth in each of the product areas, the most significant of which related to enterprise products. Services revenue for 1998 increased approximately $ 3. 3 billion over the prior year as compared with an increase of $ 64 million during 1997. Services revenue growth for 1998 was because of the acquisition of Digital. With the acquisition of Digital, Compaq now has a world class services organization with market-focused solutions and high availability support, particularly in the communications, manufacturing and finance industries. Services revenue for 1997 and 1996 mainly was to professional services provided by Tandem.
Services revenue for North America in 1998 grew $ 1. 2 billion over the prior year as compared with an increase of $ 4 million during 1997. Services revenue in North America represented 35. 3 %, 36. 4 % and 41. 2 % of total services revenue in 1998, 1997 and 1996, respectively. Services revenue for EMEA in 1998 grew $ 1. 6 billion over the prior year as compared with an increase of $ 43 million during 1997. Services revenue in EMEA represented 47. 2 %, 32. 5 %, and 26. 9 % of total services revenue in 1998, 1997 and 1996, respectively. Bibliography: Fig. 1998 Financial Chart But, Compaq hopes that by the year 2000 it " ll emerge as the second largest computer company in the world. Pfeiffer hopes to accomplish that dream by the company's announcement in 1998 of the acquisition of Digital Equipment Corporation, who is the world's leader in implementing and supporting networked business solutions in a multi vendor environment.
With the acquisition of the two computer companies, Tandem and Digital Equipment Corp. , Compaq will broaden its scope of business solutions from the smallest handheld portables to powerful fail-safe computers. Besides being a leader in the computer industry, Compaq has been named in 1996 "PC Partner of the Year" by the US Environmental Agency. Compaq commits itself to environmental care and protection, which is a part of their Total Quality Management (TQM) philosophy.
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