Dell Steps Down as Chief Exec

Friday Mar 5th 2004 by Michael Singer
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Michael Dell is stepping down as CEO of his own company. However, Dell said he would remain as chairman of the board and deeply involved in the company's day-to-day business. Learn what factors motivated the move.

After twenty years at the helm of Dell Computer, Michael Dell is stepping aside to make room for Kevin Rollins as the new chief executive officer.

In a statement Thursday, Dell said he would remain as chairman of the board and "deeply involved in the company's day-to-day business."

The announcement came during Dell's board of directors meeting, which is taking place in New York. The company said the board appointed Mr. Rollins CEO, which will be effective at the company's July 16 annual meeting of shareholders.

Rollins, who currently serves as president and chief operating officer, will become president and chief executive officer. He will also be nominated for election to the Dell board at the annual meeting, the company said.

Dell spokesperson T.R. Reid said that the changes are consistent with the roles that the two men have been playing for the past couple of years.

"Michael's thinking is that it is a title change instead of some structural shift in the company's business plan," Reid said. "We've had a two or three person CEO structure for many years and Mr. Rollins has been taking a very active role in the leadership of the company since December of 1997. This is no different than their roles were yesterday, or last week or six months ago."

Rollins is expected to succeed Mort Topfer on Dell's board of directors. Topfer, a director since December 1999, has chosen not to stand for re-election. A former executive of the company, he retired from Dell in December 2001.

Adapted from internetnews.com.

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