MEDIA WATCH: Opinions vary on ramifications of Capellas' departure from HP

HP and Compaq had to wage a bitter five-month proxy war to secure the $19 billion merger of the two companies. HP CEO Carly Fiorina and Compaq CEO Michael Capellas fought tooth and nail to secure the victory, emphasizing the strength of the combined leadership: Capellas was the operations expert, while Fiorina was the marketing and strategy whiz. However, when Capellas announced his resignation, and rumors flew that he was in talks to become CEO of WorldCom barely six months after the merger was approved, the news caught many by surprise.