Dell said Friday that it has named Thomas W. Sweet its new chief financial officer, replacing Brian Gladden. Gladden is leaving in order to "pursue career interests outside of Dell," the company said.
I had the opportunity to talk with Michael Dell earlier this month and there were two things on my mind. The first was to get some perspective and insights into the company's upcoming conference for industry analysts. And, secondly, to get a better understanding of the company's level of focus during what must be a distracting time given the desire to take the business private. After talking to Michael, I am pleased to say I achieved both.
Having run and spoken at large, corporate, industry analyst conferences
Michael Dell has revealed more details about his plans for the company if and when it goes private.
A memo from the Dell CEO to employees was included yesterday in a filing with the Securities and Exchange Commission and outlined a slew of costly promises for a restructured Dell.
One such promise is to invest more in PCs and tablets. Like many PC makers, Dell has tried to carve out a large chunk of the corporate market with servers, network gear, and other IT products. Michael Dell noted last year
Michael Dell, the founder of the computing and technology company that bears his name, confirmed today that he intended to buy it back from shareholders. In a deal announced this morning, Dell and Silver Lake Partners will buy out the company's existing shareholders in a transaction worth $24.4 billion.
The deal values Dell at $13.65 a share, amounting to a 25.5 percent premium over the closing price of $10.88, where Dell was trading on Jan. 11 before the first reports of renewed interest in a buyout transaction emerged.
Dell has reached a deal to go private, with CEO and founder Michael Dell buying back the company with backing from Silver Lake, the New York Times reported.
The buyout, if approved by shareholders, would be the largest such deal since the financial crisis.
It also would be an admission by Mr. Dell that he wasn't able to pull off the changes needed to improve his company's revenue and profit under Wall Street's glare. The buyout would give Mr. Dell the largest stake in the company