Dell CFO resigns after two years in seat

Core Insights - Yvonne McGill, CFO of Dell Technologies, is resigning after nearly 30 years with the company, including two years as CFO [5] - McGill has been recognized for her leadership in integrating AI into finance, earning the title "CFO AI-Champion of the Year" from Gartner [1] - Dell has appointed David Kennedy as interim CFO while searching for a permanent successor [4] Financial Performance - Dell reported record revenue of $29.8 billion for the fiscal quarter ended August 1, a 19% increase year-over-year, driven by AI server shipments [7] - Despite revenue growth, gross margins declined to 18.3% from 21.4% year-over-year, raising concerns about profitability [6][7] - For fiscal year 2026, revenue is projected to be between $105 billion and $109 billion, reflecting a 12% year-over-year increase at the midpoint [8] Leadership Transition - McGill's resignation is not due to disagreements regarding financial statements or internal controls, as confirmed by a securities filing [8] - The company is expected to promote from within for the next CFO, following its history of internal succession planning [1][4] - McGill will remain with the company until October 31 and will receive a cash payment of approximately $562,500 as part of her separation agreement [9]