The executive who helped Hewlett-Packard integrate its $19 billion €16.1 billion acquisition of Compaq Computer - and who was widely expected to become its next chief financial officer - resigned suddenly yesterday.

HP officials declined to discuss why Mr Jeff Clarke elected to resign with immediate effect, but the company issued a terse statement saying his departure was "mutually agreed to and was appropriate".

Mr Clarke had been head of global operations at the computer and printer company since the controversial acquisition of Compaq last year. He was credited with cutting costs from the combined company's supply and distribution system.

Before the completion of the merger, Mr Clarke was co-leader of the integration team that oversaw efforts to combine the two companies. He was also former chief financial officer at Compaq when the struggling computer group agreed to be acquired by its larger rival.

Many had expected Mr Clarke to move up to chief financial officer when Mr Bob Wayman retired. Mr Wayman (58) has been HP's CFO since 1984, prompting suggestions he was preparing to retire soon.

But a company official said yesterday there had been no discussions within HP about Mr Wayman stepping down. HP said an announcement regarding Mr Clarke's replacement would be made within days.

Mr Clarke is one of several former Compaq executives who have walked away from high- level jobs at HP. Mr Michael Capellas, former Compaq chief executive, left last year. More recently, Ms Mary McDowell resigned as head of strategy to lead the enterprise unit at Nokia, the mobile phone maker.

HP also said Ms Suzette Stephens, vice-president of global communications, resigned at the same time as Mr Clarke.