Michael Dell faces shareholder revolt

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Michael Dell faces shareholder revolt

Kathleen Hall

One-quarter of Dell's shareholders withheld support for founder Michael Dell's re-election to the board, reflecting some investors' dissatisfaction with the state of the company.

The IT supplier reported that 377.78 million of the 1.5 billion votes cast by shareholders at the company's annual meeting last week withheld their support for CEO and chairman Dell.

He received 1.13 million votes supporting his re-election, the lowest among the 11 directors who were re-elected to the board.

This follows a tumultuous year for the company, which paid $100m to end a fraud probe, and is facing allegations that it knowingly sold faulty computers.

On Thursday Dell will announce its second-quarter revenue figures.

Michael Dell previously stood down as CEO in 2004 to concentrate on his role as chairman, and was succeeded by Kevin Rollins. But Rollins left in 2007 after a series of disappointing results and concerns over customer service, bringing the firm's founder back into the chief executive position.


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