Dell Inc. announced on Wednesday that Michael Dell, the founder and chairman of the Board of Dell, will assume the duties of Chief Executive Officer (CEO) to replace Kevin Rollins, who has resigned as CEO and as a member of the Board of Directors the same day.

"The Board believes that Michael's vision and leadership are critical to building Dell's leadership in the technology industry for the long-term," said Samuel A. Nunn, presiding director of Dell's Board. "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."

Michael Dell founded the company in 1984 with 1,000 dollars and an unprecedented idea - to bypass the middleman and sell computer systems directly to the customer. He has served as the company's chairman of the Board since its founding, and served as CEO until 2004.

"Dell has tremendous opportunities ahead of it," said Dell. "I am enthusiastic about Dell 2.0, which includes our plan to provide the best customer experience, build a strong global services business and ensure our products deliver the best long-term customer value."

"Kevin has been a great business partner and friend," said Dell. "He has made significant contributions to our business over the past 10 years. I wish him much success in the future."

In 1992, Dell became the youngest CEO ever of a Fortune 500 company. Dell serves on the Foundation Board of the World Economic Forum, the executive committee of the International Business Council, and is a member of the U.S. Business Council.

Source: Xinhua