Michael Dell loses a quarter of shareholder support - PC Retail

Michael Dell loses a quarter of shareholder support

Besieged CEO manages to retain confidence of board of directors
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The shareholders of a quarter of Dell’s shares withdrew their support for its founder and chief executive Michael Dell, following calls by two unions to oust him from his position.

According to CNN Money, the holders of a total of 378 million share voted to withdraw their support from Mr. Dell, while the holders of 1.13 billion shares voted to support him.

The shareholder unrest has been brewing since Dell settled a fraud case with the Securities and Exchange Commission by making a $100 million payout.

“The Dell board of directors has reaffirmed its unanimous support for Mr. Dell's continued leadership, and a majority of shareholders agreed,” said Dell spokesman, David Frink.

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