“One quarter of Dell shareholders showed their disdain for Michael Dell, founder and chief executive, by withholding support just weeks after the computer maker settled a fraud case with the SEC,” Aaron Smith reports for CNNMoney.
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“In a filing to the Securities and Exchange Commission on Tuesday, Dell revealed that voters controlling 378 million shares withheld support for the CEO. Those controlling 1.13 billion shares voted in favor of him,” Smith reports. “Among the 11 directors at Dell, Michael Dell received the lowest number of supporting votes.”
Smith reports, “The filing came out just days before Dell is scheduled to report quarterly results on Thursday, and just weeks after the company agreed to pay a $100 million fine to settle fraud charges with the SEC.”
Full article here.
Ashlee Vance and Miguel Helft report for The New York Times, “Joseph A. Grundfest, a Stanford law professor and co-director of the Arthur and Toni Rembe Rock Center for Corporate Governance [said], ‘It is extremely rare to have that amount of shareholder disaffection directed toward an executive who is so central to the company’s past, present and future.'”
“The protest vote faced by Mr. Dell, who owns 11.7 percent of Dell’s outstanding shares, is unusual, but not unprecedented,” Vance and Miguel Helft report. “In 2008, Jerry Yang, Yahoo’s co-founder and then chief executive, was re-elected to the board but faced a 33.7 percent negative vote. Three months later Mr. Yang announced that he would step down as chief.”
Full article here.
MacDailyNews Take: Beleaguered Dell.
Amazing how a one trick pony can keep performing at the circus!
SIDAGTMBTTS!!
I love that picture. He looks like his wife just told him she bought an iMac…
He looks angry and resentful in that photo. Guess he has good reason to be.
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Let him stay. Just like Ballmer, he’s doing a fine job.
Should have bought Palm then created a half-decent phone and tablet…
Michael Dell needs to stay the CEO running Dell right up to the day Dell closes the doors and returns what ever is left to the share holders!
How is it that this clown and Steve Ballmer still have jobs?
They should fire him and hire Pepsi’s CEO. Then, Michael will buy Dreamworks and…
“How is it that this clown and Steve Ballmer still have jobs?”
Because Steve Jobs decided to keep his better platform ridiculously overpriced that’s how.
What does ‘ridiculously overpriced’ mean? Don’t you mean ‘Apple doensn’t make bargain-bin junk’?
Dude, you’re getting a cell!
Remember those magazine ads in the 90s that portrayed Dell as such a hip badass for his mail order system that essentially kicked off the beige box manufacturers long slide into zero margins?
Step aside while the One True Badass, Stephen P Jobs drives Dell Inc into irrelevance.
@ Annoymous coward,
I praise the honesty you used in picking a handle for this site.
They should give him a massive bonus!
Not many CEOs can perform so poorly.
That in itself is one he’ll of a talent!
Keep him at the helm of Dell and they can stay on course on hitting that massif iceberg in a few years time.
“Don’t you mean ‘Apple doesn’t make bargain-bin junk’?”
Spoken like someone who hasn’t owned a good variety of other computing equipment to make a honest assessment.
Therefore 75% of the shareholders are morons.
@anonymous coward
It doesn’t matter what the hardware is if you don’t like the OS and what comes with it. Flat out, Apple has the best product designers in the world. If Apple didn’t exist, having a tower computer that’s black but looks exactly the same and still runs windows would be generating oooohs and aaaaahhs.
Only 25%?
The rest are storming the place with pitchforks and torches.
Actually, if you take Mikey’s own 11.7% of the shares out of the calculation, then it’s more like
more than 28%
withhold support. Poor Mikey. Even his own shareholders are picking on him now.
I vote that Michael stay in and co-CEO with the original Dell Dude…working fantastic for RIMM.
Dell low-balled every single competitor pricewise and, though successful short-term, they eventually low-balled themselves out of commision…why??…just like M$…absolutely NO innovation…NONE.
Problem with Dell is they started making crappy hardware and combined with crappy XP spelled their doom.
HP on the other hand makes nice hardware and took advantage of newer, nicer versions of Windows along with their printer making advantage in business circles.
HP and Microsoft followed Apple ascetic changes. Dell was still doing bargain basement deals and missed the cues.
Remember the Putin smack-down of MD-
http://news.cnet.com/8301-1001_3-10151962-92.html
Nelson says- Haw haw.
If only Dell could sell OS X with its computers. Too bad only Apple does.