Rollins quits as Dell CEO

Michael Dell, founder of the direct vendor, takes back the top post as Rollins suddenly departs

Kevin Rollins, chief executive officer of Dell has abruptly quit his post. The firm made the annoucement last night and said that Michael Dell will assume the duties of chief executive officer, effective immediately. Dell will also retain his duties as chairman of the Board.

In a statement Dell said: "“Kevin has been a great business partner and friend,” said Mr. Dell. “He has made significant contributions to our business over the past ten years. I wish him much success in the future.”

Dell previously moved gfrom his position of cheief executive in 2004. Samuel Nunn, presiding director of Dell’s Board, said: “The Board believes that Michael’s vision and leadership are critical to building Dell’s leadership in the technology industry for the long-term. There is no better person in the world to run Dell at this time than the man who created the Direct Model and who has built this company over the last 23 years.”

However the direct vendor, which has recently acquired retail space in both the US and the UK, has slipped from its number one PC manufacturer position lately, losign the spot to arch rival Hewlett-Packard.

The company also said that it expects its fourth quarter fiscal year 2007 results to be below the average of esitmates for both revenue and earnings per share.