Continental Airlines (NYSE: CAL and CAL.A) President and Chief Operating Officer Greg Brenneman said today that he has decided not to proceed with further discussions with Compaq Computer Corporation relating to their search for a new chief executive.

“I am happy here at Continental, and while I`ve had discussions with Compaq, I do not intend to pursue them further,” Brenneman said. “I have a great working relationship with Gordon Bethune and the team of 48,000 professionals here at Continental, and there is a lot more I can accomplish for the airline. I have asked Compaq to remove me from further consideration.”

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