AFL-CIO: Michael Dell Should Not Be Dell’s Chairman
PC Magazine
By: Mark Hachman
08.03.2010
The AFL-CIO has sent a letter to Dell shareholders urging them to vote out Michael Dell as chairman of the company, citing the SEC’s recent investigation and Dell’s subsequent settlement.
A representative for Dell Inc. said that the company’s board unanimously supports Michael Dell.
“In our opinion, shareholders should withhold their vote from Michael Dell’s election as a director of our Company,” the letter states, co-authored by the American Federation of State, County and Municipal Employees (AFSCME). “Based on the allegations in the SEC’s complaint against our Company and Michael Dell, we believe that shareholders would be better served by the removal of Michael Dell as the Chairman of our Company’s Board of Directors. By voting to “WITHHOLD” from Michael Dell, you can encourage the Board of Directors to appoint a new Chairman.”
On July 22, both Dell Inc. and Michael Dell settled with the U.S. Securities and Exchange Commission. Dell Inc. will pay $100 million and founder Michael Dell will pay an additional $4 million in civil monetary penalties.
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