Mark Dell steps down,installs new CEO

Dell founder and chairman Michael Dell has formally handed over the chief executive job to president Kevin Rollins as the computer giant raised its earnings guidance for the second quarter.

Mr Dell, who started the company in 1984 while a student at the University of Texas, announced in March he was stepping down as CEO. The title was transferred to Mr Rollins at the company’s annual stockholders’ meeting today. Mr Rollins also was elected to the board of directors.

As he prepared to relinquish the chief executive mantle, Mr Dell gave an overview of the company and its growth in its first 20 years. He said Mr Rollins had been at his side helping to run Dell for the past seven years.

“While I’ve been getting most of the credit, there is no single person who deserves more recognition for Dell’s great accomplishments than Kevin Rollins,” he said.”Kevin’s new CEO title is as much about recognising what he’s already done as it is about our confidence in his many future contributions.”

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