At Dell, Michael Dell Assumes CEO Duties; Kevin Rollins Resigns
Thursday, 01 February 2007
Dell Inc. announced yesterday that Michael Dell will re-assume the duties of Chief Executive Officer. Dell, who will retain his duties as Chairman of the Board, will replace Kevin Rollins, who resigned, effective immediately, both as CEO and as a member of the company’s board of directors.
“The Board believes that Michael’s vision and leadership are critical to building Dell’s leadership in the technology industry for the long-term,” said Samuel A. Nunn, presiding director of Dell’s Board and former United States Senators. “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 company in 1984 with $1,000 and an unprecedented idea – to bypass the middleman and sell computer systems directly to the customer. He has served as the company’s Chairman of the Board, since its founding, and served as CEO until 2004.
“Dell has tremendous opportunities ahead of it,” said Dell. “I am enthusiastic about Dell 2.0, which includes our plan to provide the best customer experience, build a strong global services business and ensure our products deliver the best long-term customer value.”
“Kevin has been a great business partner and friend,” said Dell. “He has made significant contributions to our business over the past ten years. I wish him much success in the future.”
In 1992, Dell became the youngest CEO ever of a Fortune 500 company. Dell serves on the Foundation Board of the World Economic Forum, the executive committee of the International Business Council and is a member of the US Business Council.
The Company also said that it expects its fourth quarter Fiscal Year 2007 results to be below the average of First Call Estimates for both revenue and earnings per share.