Shareholders display discontent with CEO Michael Dell


Shareholders display discontent with CEO Michael Dell

Microscope contributor

One quarter of Dell shareholders have registered their frustration with the performance of the company by refusing to back CEO, chairman and founder Michael Dell's re-election to the board.

In a regulatory filing lodged with the SEC yesterday, the PC maker revealed 377.8 million of the 1.5 billion votes cast on the 12 August "withheld" support for re-instating Dell as a director.

The vote of no confidence follows a tumultuous number of years for the US giant in which Michael Dell sat back in the CEO's chair after it haemorrhaged PC market share, notched up losses and dumped its direct only sales strategy.

More recently, Dell has faced a series of embarrassing public relations disasters including its shady relationship with Intel which masked its true financial results and substantive accounting errors.

All of this has clearly left shareholders, 25% of them anyway, with a sense of frustration and it was not limited to Michael Dell either with nearly one third withholding support for director Thomas Luce and others.

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