Michael Dell, founder and CEO of computer maker Dell Inc. (DELL), was reelected to the company's board with over 25% of the votes withholding support, as investor hostility to his tenure mounts.
At a meeting on Aug. 12, 377.8 million out of 1.5 billion votes withheld support for Michael Dell, Reuters reported. Of the 11 directors that were reelected, Michael Dell received the least votes in favor of his election.
Dell shares have fallen more than 13% this year, while the Nasdaq has risen more than 14%. Dell has given up market share rather than face a price war that could trim margins.
What Is Your Risk Tolerance?
Answer the question "What type of investor am I?".View Course »