Dell's CEO resigns, Michael Dell back in charge
Round Rock (TX) - Michael Dell is back as the Chief Executive Officer of Dell after Kevin Rollins surprisingly announced his resignation today. Rollins has been CEO since 2004 and didn’t publicly disclose why he was resigning.
Rollins resignation is effective immediately and he will also give up his position as member of the Board of Directors. In a statement, Michael Dell said that Rollins, "has made significant contributions to our business over the past ten years. I wish him much success in the future."
Dell’s CEO shuffle now has gone full circle. Michael Dell stepped down as the company’s CEO back in March 2004. Now he is back with a vengeance and will also keep his duties as Chairman of the Board.
Dell expects fourth quarter 2007 financial results to be below average. Dell’s stock price has gradually declined from a high of around $43 a share in January 2005 to a close of $24.22 today.
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