Michael Dell returns to CEO post
By Colleen Taylor -- EDN, February 1, 2007
Tackling increasingly lackluster financial quarters, Dell Inc.'s founder and namesake Michael Dell has re-assumed the duties of CEO.
Dell, who will retain his duties as chairman of the board, will replace Kevin Rollins. Rollins has resigned from his position as CEO and as a member of the board of directors. The executive changes came Wednesday.
The company also said that it expects its Q4 results to be below the average of first call estimates for both revenue and earnings per share.
"The board believes that Michael's vision and leadership are critical to building Dell's leadership in the technology industry for the long-term," Samuel A. Nunn, presiding director of Dell's board, said in a statement. "There is no better person in the world to run Dell at this time than the man who created the Direct Model and who has built this company over the last 23 years."
Dell founded the PC company in 1984 and has served as the company's chairman of the board since then. He had also served as CEO until 2004.
Although Rollins' departure seems to imply a scandal was involved, the company maintained that the executive shuffle is nothing more than a business model re-vamping. "Kevin has been a great business partner and friend," Dell said in the statement. "He has made significant contributions to our business over the past ten years. I wish him much success in the future."
