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Enron CEO resigns from Compaq board

The chief executive officer of bankrupt energy company Enron has resigned from Compaq's board of directors.

The chief executive officer of bankrupt energy company Enron has resigned from Compaq's board of directors.

Ken Lay, who had been a member of Compaq's board since 1986, stepped down at the end of December after the energy powerhouse filed for bankruptcy protection. Both Enron and Compaq are headquartered in Houston, Texas.

Compaq spokesman Arch Currid would not comment on why Lay resigned. "We're not characterising it," he said.

The resignation leaves Compaq with seven board members, the minimum allowed under company bylaws. Compaq has no immediate plans to replace Law, Currid said.

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