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Dell's Michael Dell gives up CEO post
PC maker's founder to continue as chairman, yielding position to president Kevin Rollins.
March 4, 2004: 1:46 PM EST

NEW YORK (CNN/Money) - Dell Inc. said Thursday that Michael Dell, the PC maker's founder, will relinquish the chief executive post in July but remain as company chairman.

The company said Kevin Rollins, currently president and chief operating officer, will serve as president and CEO.

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The move comes a day after Walt Disney Co. took the chairman's job away from Michael Eisner but kept him as CEO. But Dell (DELL: Research, Estimates)'s actions do not appear to have the any of the contentiousness that led to Eisner's ouster as chairman.

Michael Dell has taken on a role as more of a big picture thinker for the company in recent years while Rollins has assumed more of the day-to-day spotlight. Rollins has been with Dell since 1996 and was named president and COO in March 2001.

"The pending title change is consistent with current primary roles: Mr. Dell emphasizing trends in technology and customer preference, including research and development, Mr. Rollins leading company strategy and operations," the company said in a written statement.

Dell is the latest company to split the role of CEO and chairman. Oracle CEO Larry Ellison gave up his title of chairman in January. Jeff Henley, formerly Oracle's CFO, assumed the chairman position. Also in January, semiconductor firm Texas Instruments announced that long-time CEO and chairman Tom Engibous would give up his CEO role in May. Rich Templeton, Texas Instruments' chief operating officer since 2000, will take over as CEO.

Shares of Dell fell slightly in trading on the Nasdaq Thursday.  Top of page




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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.