Capellas' Departure Just Another Brick in H-P's Wall

Updated from 6:33 p.m. EDT

Analysts and investors frowned at the announcement that H-P's(HPQ Quote) second-ranking executive, Michael Capellas, is leaving, giving the tech giant yet another challenge.

Cappellas' impending departure, possibly to head up troubled WorldCom, created a minor tizzy in Monday trading. The news triggered a 11% slide in the stock, which was the most heavily traded share on the Big Board.

Capellas, who had been the chief of Compaq, accepted the No. 2 title of president following the company's merger with Hewlett-Packard. His departure means H-P will be losing a hands-on operational chief who still holds loyalty among former Compaq workers, leaving H-P CEO Carly Fiorina to handle ongoing issues of the merger and continuing challenges to the company's core businesses. ...