(Updates with statement from James Breyer.)
By Nathalie Tadena
Dell Inc. (DELL) said venture capitalist James Breyer plans to
retire from the computer company's board. He also is stepping down
from the boards of Facebook Inc. (FB) and Wal-Mart (WMT).
Mr. Breyer, a partner at Accel Partners, has been a member of
Dell's board since April 2009 and is the current chair of its
finance committee. He will continue to serve as a director until
the company's annual meeting.
"I am not standing for re-election to the Dell board given
increasing new investment and other responsibilities including the
recent election to the Harvard University Corporation Board," Mr.
Breyer said in an e-mail. He added that he will stay in "close
touch" with Chairman and Chief Executive Michael Dell and his
team.
Mr. Breyer's decision to resign from Dell's board comes as the
company pursues a $24.4 million buyout offer from its founder Mr.
Dell and investment firm Silver Lake Partners.
"Dell and its stockholders have benefited greatly from the
leadership and perspective Jim has provided during his tenure on
the Dell board," Mr. Dell said. "We're grateful for his guidance
and we wish him well in all his future endeavors."
Facebook on Friday disclosed that Mr. Breyer was stepping down
from its board. Mr. Breyer also announced last week that he wasn't
standing for re-election to Wal-Mart's board.
Dell shares closed at $13.34 and were unchanged after hours. The
stock is up 32% since the start of the year.
--Shira Ovide contributed to this report
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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