1)In August 2010, Michael Dell, Dell, Inc.s CEO and chairman of the board, was reelected...
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In August Michael Dell, Dell, Inc.s CEO and chairman of the board, was reelected to Dells board of directors by Dells shareholders. However, not all of the shareholders were happy with Mr Dells reappointment. Specifically, two labor groups that own shares of Dell stock wanted Mr Dell removed from the board because of an action and settlement of the SEC involving the company and Mr Dell. The SEC complaint alleged various accounting manipulations that called into question Dells reported financial success from to In July Dell, Inc. agreed to pay $ million to settle SEC charges, without admitting or denying guilt. Mr Dell agreed to pay a $ million fine, also without admitting or denying guilt. a What principles of corporate governance appear to have been missing at Dell? bGiven the apparent actions of Mr Dell, along with his management and board roles, should Dells external auditor expect the corporate governance at Dell to be effective? cHow might Dells external auditor respond to concerns about the quality of governance at Dell? d Given the SEC settlement, should Dells board have an independent chair? e Given the SEC settlement, should Mr Dell be removed from his CEO position?
In August Michael Dell, Dell, Inc.s CEO and chairman of the board, was reelected to Dells board of directors by Dells shareholders. However, not all of the shareholders were happy with Mr Dells reappointment. Specifically, two labor groups that own shares of Dell stock wanted Mr Dell removed from the board because of an action and settlement of the SEC involving the company and Mr Dell. The SEC complaint alleged various accounting manipulations that called into question Dells reported financial success from to In July Dell, Inc. agreed to pay $ million to settle SEC charges, without admitting or denying guilt. Mr Dell agreed to pay a $ million fine, also without admitting or denying guilt.
a What principles of corporate governance appear to have been missing at Dell?
bGiven the apparent actions of Mr Dell, along with his management and board roles, should Dells external auditor expect the corporate governance at Dell to be effective?
cHow might Dells external auditor respond to concerns about the quality of governance at Dell?
d Given the SEC settlement, should Dells board have an independent chair?
e Given the SEC settlement, should Mr Dell be removed from his CEO position?
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