According to a report from Tech Sina, Dell’s Greater China president -Yang Chao has internally announced his resignation. Min Adams, president of Dell Asia-Pacific region will be temporarily taking over specific duties.
“The data show that Yang Chao joined Dell in October 2007 as Dell’s global vice president and later Greater China general manager of consumer business,” Luo Xiaowei reports. “He had overall responsibility for consumer products in the Chinese market. In November 2010, he was president of Dell Greater China. Prior to this, Yang Chao had served as vice president of sales at Motorola, has many years of electronic products retail experience, proficient channels and sales.”
Yang Chao’s departure is largely attributed to Dell’s ongoing privatisation ambitions, which could lead to a major shift from the consumer to the enterprise market. This move appears more imperative to Dell’s survival given the decline in the PC market. Research data from International Data Corp indicates that PC sales was down 14 per cent to 76.3 million worldwide for the first three months of 2013. Forecaster expected a decline of only 7.7 per cent.
Early this year, Dell informed shareholders that the company intends to go private with a $2 billion from Microsoft. The deal is reportedly valued at about $24.4 billion and sees CEO Michael Dell partnering with technology investment firm Silver Lake to acquire the company.
However, this transaction is now being challenged by investor Carl Icahn, who is demanding a $15.7-billion special dividends pay out. He is requesting Dell to pay $9 a share in dividends, both from its own stockpile and by raising new debt, if the privatization deal is voted down, according to report. In a letter to the company’s board , Icahn said that “having reviewed the Going Private Transaction, we believe that it is not in the best interests of Dell shareholders and substantially undervalues the company.”
Source: Tech Sina
