CEO Dell Cans Execs He Handpicked To Save The Company
After Dell founder Michael Dell rejoined the company in 2007, he hired fromer Solectron CEO Michael Cannon as president of global operations and former Oracle exec Mark Jarvis as chief marketing officer.
$22.8 million in total compensation later, both Cannon and Jarvis will lose their jobs before 2009, the Wall Street Journal reports. Cannon will probably stay with the company in a new role. Jarvis is out.
Sources told the Journal Dell (DELL) could also soon make cuts to "its lower executive ranks."
Cannon was supposed to streamline Dell manufacturing. Jarvis's job was get customers to "lust" after Dells.
But Cannon's plan to outsource PC production took too long and besides, doesn't take advantage of his on-the-production-line cost custting prowess.
And while Jarvis saved the company lots of money when he cut relationships with some 800 agencies and formed one instead, the WSJ says " some Dell executives were unhappy about giving up relationships with other ad firms."
