Kevin Rollins, now ex-CEO of Dell Inc.  (Source: Dell)
Former Dell CEO Kevin Rollins rolling in $48 million cash

Although Kevin Rollins is no longer the CEO of Dell, he will be receiving very large sums of money for his time with the computer maker. According to an August 8 filing with the Securities and Exchange Commission (SEC), Rollins will receive more than $48 million in cash from his stock options.

As detailed by the SEC, "7,370,000 unexercised options that were vested at the time of [Rollins’] retirement expired 90 days after this retirement date." Specifically, Dell will pay Rollins $48,462,495 for the unexercised stock options 45 days after it files its 2007 Annual Report with the SEC, reports eWeek.

Rollins replaced Michael Dell as CEO of the company in 2004 and helped the firm to expand into many areas such as professional services. Dell also put its hands into the enthusiast level gaming market, buying customized gaming computer manufacturer Alienware in early 2006. Since then Dell has marketed its own line of gaming desktops and notebooks as well as kept the Alienware brand alive and operating independently. All wasn’t always beer and Skittles for Rollins, as in 2006 Dell lost its title as the largest PC shipment champion to Hewlett-Packard.

Since Rollins’ retirement from the company on May 4, 2007, Michael Dell has taken over the reigns as both CEO and Chairman of the Board. Rollins recently joined private investment firm TGP Capital Partners as a senior advisor.

Dell has had quite a turbulent 2007 thus far. In February, Dell was accused of secretly receiving illegal rebate kickback payments from Intel in return for exclusive deals. Then in March, Dell had to delay its 10-K filing with the SEC due to accounting inconsistencies. Just two months later, Dell was sued for allegedly deceiving customers by using "bait and switch" advertising practices to lure in new business.

"People Don't Respect Confidentiality in This Industry" -- Sony Computer Entertainment of America President and CEO Jack Tretton

Most Popular ArticlesSony’s 4K OLED Smart TV
August 13, 2017, 6:20 AM
Ticwatch E and S on Kickstarter
August 11, 2017, 6:00 AM
SoundCloud survives the budge scare
August 12, 2017, 6:38 AM
Acer Chromebook 11 C771 – Durable Education Companion
August 10, 2017, 6:40 AM
Mobile C50 Flash Drive
July 30, 2017, 6:00 AM

Latest Blog Posts
Xiaomi Mi 6 Smartphone.
Nenfort Golit - Aug 8, 2017, 6:00 AM
ASUS 23-inch Monitor
Nenfort Golit - Aug 4, 2017, 6:00 AM

Copyright 2017 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki