ADOTAS – Dell Inc. has announced that it will be ringing in the New Year with a new president – President Mike Cannon is retiring. Cannon will stay on board as a consultant; Jeff Clarke will replace him.
Some industry sources are surprised at the announcement. Michael Dell returned to the company as CEO in 2007 and handpicked a number of key staffers, one of whom was Cannon.
Another hire was Mark Jarvis, previously of Oracle, as Dell’s chief marketing officer. Jarvis is also being shown the door. Erin Nelson, previously vice president of marketing, Dell Europe, Middle East and Africa, will take over as CMO.
Sources told the Wall Street Journal that other cuts are likely to ensue. Dell will also reportedly plans to restructure its finances – clearly a much-needed step.
Dell was trading at about $10.15 at 9:36 a.m., down from a high of roughly $30.
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