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Trade unions pit shareholders against Dell CEO

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CIOL Bureau
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CALIFORNIA, USA: Two US based labour unions recently urged Dell shareholders to withhold their votes for chairman and CEO Michael Dell to remain as a director on the company's board following a US$100 million accounting practices settlement the company made with the U.S. Securities and Exchange Commission.

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The AFL-CIO and American Federation of State, County, and Municipal Employees (AFSCME), in a letter to shareholders, also suggested that Michael Dell's executive compensation package was excessive during the past decade, said an IDG report.

“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," the letter said.

“In the SEC settlement, Dell's board reaffirmed its 'unanimous support' for Michael Dell's leadership,” IDG quoted Jess Blackburn, a Dell spokesman, as saying.

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