Legendary Dell founder returns to firm

SAN FRANCISCO – Michael Dell on Wednesday resumed command of the US computer company he founded in 1984, taking back control of the struggling firm from a successor he anointed.

Dell’s return to the chief executive position at the company that bears his name caused its stock to rise more than four per cent in after-hours trading. Dell replaced 54-year-old Kevin Rollins, who resigned effective immediately.In the nearly three years that Rollins headed the Texas-based firm, it lost its dominant position in computer sales to California-based rival Hewlett-Packard and came under scrutiny for questionable accounting practices.US regulators and prosecutors are investigating indications that the company misstated items in financial reports.The firm’s chief financial officer James Schneider “retired” abruptly in December.”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,” said Samuel Nunn, head of Dell’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.”The tactic that Dell innovated when he started the company shipped the firm’s computers directly to users, eliminating stores or other “middle men.”Dell created the company with US$1 000 and served as its chief executive from its inception until he handed the reins to Rollins in 2004.Dell has been honoured as “Man of the Year” and “Entrepreneur of the Year” by industry publications and his firm was declared the most admired in the world at one point by Fortune magazine.”Dell has tremendous opportunities ahead of it,” Dell said in a release on Wednesday, adding he was optimistic about the company’s prospects with new-generation online trends referred to by the buzz-phrase “Internet 2.0.”.”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.”Along with announcing the transfer of power, the company lowered its revenue and earnings estimates for its fourth fiscal quarter, the results of which are to be reported in March.Dell, who will be 42 years old in February, was reportedly a teenager when his curiosity drove him to dismantle and reconstruct his first computer – an Apple II.While attending a Texas university with a vision of being a doctor, Dell established a computer company that he ran from his room.Dell dropped out of college and borrowed money from family to focus full-time on running his computer company, which went on to become one of the most profitable in the world with billions of dollars in annual revenues.Dell lives in Austin, Texas, with his wife and their four children.Nampa-AFPDell replaced 54-year-old Kevin Rollins, who resigned effective immediately.In the nearly three years that Rollins headed the Texas-based firm, it lost its dominant position in computer sales to California-based rival Hewlett-Packard and came under scrutiny for questionable accounting practices.US regulators and prosecutors are investigating indications that the company misstated items in financial reports.The firm’s chief financial officer James Schneider “retired” abruptly in December.”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,” said Samuel Nunn, head of Dell’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.”The tactic that Dell innovated when he started the company shipped the firm’s computers directly to users, eliminating stores or other “middle men.”Dell created the company with US$1 000 and served as its chief executive from its inception until he handed the reins to Rollins in 2004.Dell has been honoured as “Man of the Year” and “Entrepreneur of the Year” by industry publications and his firm was declared the most admired in the world at one point by Fortune magazine.”Dell has tremendous opportunities ahead of it,” Dell said in a release on Wednesday, adding he was optimistic about the company’s prospects with new-generation online trends referred to by the buzz-phrase “Internet 2.0.”.”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.”Along with announcing the transfer of power, the company lowered its revenue and earnings estimates for its fourth fiscal quarter, the results of which are to be reported in March.Dell, who will be 42 years old in February, was reportedly a teenager when his curiosity drove him to dismantle and reconstruct his first computer – an Apple II.While attending a Texas university with a vision of being a doctor, Dell established a computer company that he ran from his room.Dell dropped out of college and borrowed money from family to focus full-time on running his computer company, which went on to become one of the most profitable in the world with billions of dollars in annual revenues.Dell lives in Austin, Texas, with his wife and their four children.Nampa-AFP