Co-founder of Compaq Computer Corporation, Canion is a native of Houston who graduated from the University of Houston in 1966 and 1968 with Bachelor's and Master's degrees in electrical engineering with an emphasis on computer science. Before co-founding Compaq, Canion worked at Texas Instruments.
During Canion's tenure as Compaq's CEO, the company set records for the largest first-year sales in the history of American business and reached the Fortune 500 and the $1 billion revenue mark faster than any other company in history. In 1991, Canion was dismissed by Compaq's chairman, Benjamin M. Rosen.
In 1992, Canion founded Insource Technology Group with Ronald L. Fischer and has served as its chairman until September 2006. In 1999, he led the initial investment round for Questia Media, Inc., which provides an online research library. He became chairman of the board and later helped the company raise $150 million.
Canion has served on the Board of Directors of AMVESCAP, BlueArc, and Young Life Metro, as Chairman of the Houston Technology Center, and as a member of the Board of Advisors for Sternhill Partners. He has also served on the board of HealthLink, a spin-off of Insource Technology that specializes in healthcare consulting.
