Dell Technologies announces CFO transition and interim appointment

Dell Technologies Inc. (NYSE:DELL), a prominent player in the Technology Hardware industry with a market capitalization of over $83 billion, announced Monday that Chief Financial Officer Yvonne McGill will step down from her position effective Tuesday. The announcement comes as Dell shows strong momentum, with the stock delivering a nearly 38% return over the past six months. The company stated that McGill will serve in an advisory role to support the transition and remain a full-time employee through October 31, which marks the end of the third quarter of fiscal year 2026.

According to a statement in the company’s SEC filing, McGill’s resignation is not related to any disagreement with Dell Technologies regarding its financial statements, internal controls, operations, policies, or practices.

Dell Technologies has entered into a separation agreement with McGill. Subject to specified conditions, she will receive a pro rata bonus for fiscal 2026 of approximately $562,500, in addition to entitlements under her existing agreements concerning sensitive information, noncompetition, and nonsolicitation.

The company’s Board of Directors has appointed David Kennedy, Senior Vice President of Global Business Operations, Finance, as interim Chief Financial Officer, effective Tuesday. Kennedy has been with Dell Technologies since 1998 and has held several senior roles, including Senior Vice President and Chief Operating Officer for Global Sales and Chief Financial Officer of the Client Solutions Group.

Kennedy will continue to be eligible for Dell Technologies’ employee benefit and incentive plans, including participation in the 2023 Stock Incentive Plan, as described in the company’s 2025 proxy statement.

Dell Technologies has begun a search for a permanent Chief Financial Officer.

This information is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, Dell Technologies has reported impressive financial results for its July quarter, with revenue reaching $29.8 billion and earnings per share at $2.32, both surpassing analyst expectations of $29.0 billion and $2.29, respectively. The company saw a 19% increase in overall sales year-over-year, driven by a 44% growth in its Infrastructure Solutions Group and a modest 1% growth in its Client Solutions Group. Following these strong earnings, Evercore ISI reiterated an Outperform rating and maintained a $160 price target on Dell. Additionally, Raymond James raised its price target to $152 from $150, citing better-than-expected fiscal second-quarter results but noted a mixed outlook for the upcoming quarter. Meanwhile, TD Cowen increased its price target to $130 from $125, highlighting robust demand for Dell’s AI servers, which contributed $8.2 billion in revenue for the July quarter. In management changes, Dell announced that CFO Yvonne McGill will step down in September 2025, with David Kennedy named as interim CFO. Kennedy, who has been with Dell for 27 years, will assume the role while the company searches for a permanent successor.

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