Michael Dell Hands Over CEO Title

Dell Inc. announced Thursday that Michael Dell will hand over the CEO title to Kevin Rollins, who currently is president and chief operating officer.

Dell's board of directors, meeting Thursday in New York City, appointed Rollins CEO, effective July 16th at the company's annual shareholders meeting. Dell founded the company almost 20 years ago while a student at the University of Texas here. The company had revenues of $41.7 billion last year.

Dell remains chairman. He and Rollins will maintain what a company statement said is a "two-in-a-box" senior-management structure. "The pending title change is consistent with current primary roles: Mr. Dell emphasizing trends in technology and customer preference, including research and development, Mr. Rollins leading company strategy and operations," the Dell announcement said.

Rollins will succeed Mort Topfer on Dell's board of directors. A manufacturing expert who once worked at Motorola, Inc., Topfer retired from Dell in December 2001.