Dell CFO stepping down in January
Jim Schneider, Dell’s chief financial officer, will step down from his position by the end of January, while the SEC continues to investigate the company’s accounting practices. Donald Carty, the former chief executive and chief financial officer of AMR–the parent company of American Airlines–will replace Schneider, Dell announced Tuesday.
Schneider has been with Dell since 1996, becoming CFO in 2000. He joined the company when it was still finding its way among the leaders in the PC market, but oversaw a period of strong growth fueled by direct sales and lean inventory management. In the early part of this decade, when its competitors were struggling to cope with the fallout from the dot-com bust, Dell posted strong growth in both revenue and profits quarter after quarter. But this has not been a good financial year for Dell. The company has missed its earnings targets several times as it copes with a slowdown in demand for desktop PCs.
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