Yvonne McGill, CFO of Dell Technologies, has announced her resignation after nearly two years in the role and a nearly 30-year career with the company. The announcement was made in a securities filing on Monday, and Dell has initiated a search for her permanent successor. David Kennedy, senior vice president of Dell Global Business Operations, has been appointed as interim CFO effective immediately.
Michael Dell, the company’s CEO and founder, praised McGill’s contributions, stating that her leadership has left a significant mark on the organization. He expressed gratitude for her efforts, particularly in scaling the company’s AI business.
McGill was appointed CFO in 2023, succeeding Tom Sweet, Dell’s longest-serving CFO, amid challenges in the tech industry, including decreased customer demand for PCs and uncertainties related to advancements in generative artificial intelligence. Given Dell’s internal promotion of McGill, experts suggest that the company is likely to continue this trend in its search for a new CFO.
During her tenure, McGill gained recognition for her contributions to AI, earning the title of “CFO AI-Champion of the Year” from Gartner for her leadership in integrating AI into finance and operations. Despite strong performance in Dell’s AI server segment, the company has faced financial pressures, with a recent report indicating declining gross margins.
In the latest fiscal quarter, Dell reported record revenue of $29.8 billion, a 19% year-over-year increase driven by AI server shipments. However, gross margins fell from 21.4% to 18.3%. Looking ahead, McGill had previously projected revenue for fiscal year 2026 to be between $105 billion and $109 billion, anticipating continued demand in traditional servers and storage.
McGill’s resignation was not due to any disagreements regarding financial practices or operations, as stated in the filing. She will remain with Dell until October 31 and is set to receive a cash payment and pro rata bonus of approximately $562,500 as part of her separation agreement. Her total compensation for fiscal 2025 amounted to $7.16 million, including salary and stock awards.