Shareholdersshow disdain for Dell chief

first_img DELL founder Michael Dell survived an investor savaging during his re-election to chief executive, with more than a quarter of voters withholding their support.Shareholders are furious at the firm’s fall from being the biggest computer manufacturer in the world to its current third place behind Hewlett-Packard (HP) and Acer. Dell’s stock is down more than 50 per cent since August 2008 and the company recently paid $100m (£64m) to settle a government probe into some of its accounting practices.The company has made a mix of major and small acquisitions in the past year as it tries to diversify beyond personal computers. This week it said it had agreed to pay $1.15bn to buy data storage company 3PAR.But the strategy was not enough for 25.1 per cent of Dell shareholders, who refused to back the chief executive at the firm’s annual meeting on 12 August.The firm is facing fierce competition from rivals including Oracle and Cisco Systems, which are expanding into new corporate technology markets, while smartphone and tablet technology from Apple and Google threatens to erode PC sales.Meanwhile, Hewlett-Packard (HP), which dazzled Wall Street with rock-steady performances during Mark Hurd’s five-year reign, also faces investor pressure.Its shares are down 11 per cent since Hurd announced his abrupt departure on 6 August amid a sexual harassment scandal.It will hold its quarterly earnings conference with analysts later today. The focus will be on HP’s strategy and its ability to keep up momentum across its diverse businesses. Shareholdersshow disdain for Dell chief More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Show Comments ▼ Tags: NULL whatsappcenter_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBetterBe20 Stunning Female AthletesBetterBeAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic Mirrorautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comHealth.recetasget5 Common Cancer Signs to Pay Attention ToHealth.recetasgetRichestNetWorths4 Sisters Took The Same Picture for 40 Years. You Might Cry When You See The Last One!RichestNetWorthsinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comSportPirateElle Macpherson Is Almost 60, Try Not To Smile When You See Her NowSportPirate Share whatsapp Wednesday 18 August 2010 7:52 pmlast_img read more