Michael Dell (pictured) has returned to the position of chief executive of the computer giant in a bid to stem losses of market share to arch rival HP.
Forty-one-year-old Dell, who founded the company 23 years ago from his college dorm room in Texas, has taken back the reins of the company from previous CEO Kevin Rollins. Dell will continue to hold the position of chairman of the company.
Dell’s 10pc stake in the company is estimated to be worth US$5.5m.
Analysts doubt that Michael Dell will be able to swiftly repair the company, however, and that it could take time to rebuild market share, particularly in the US.
Growth at the company slowed from 21pc in 2004 to 3.4pc by the end of November last.
It is understood that Rollins has been under pressure from shareholders to resign.
The company said that fourth-quarter revenues and profits would most likely be below analysts’ estimates.
While he didn’t give any specific, Michael Dell said that he was enthusiastic about Dell 2.0, a series of initiatives aimed at improving the company’s customer service and product sets.
By John Kennedy