Dell CFO to Leave After Internal Probe - TheStreet

Dell CFO to Leave After Internal Probe

The company says the move is planned after the CFO completed an accounting probe.
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Dell (DELL) - Get Report announced Monday that finance chief Don Carty is stepping aside next month, ending a 17-month term during which he saw Dell through an internal investigation into the company's past bookkeeping practices.

Carty will be replaced by Brian Gladden, a veteran of

General Electric

(GE) - Get Report

, when he resigns next month. Carty will remain a member of Dell's board of directors.

Dell spokesperson Jess Blackbrun said that the switch was planned and expected by Dell and Carty, following the completion of the accounting probe late last year.

"It never really was intended for him to stay on the role for an extended period," said Blackburn.

Carty, the former CEO of American Airlines parent company

AMR

(AMR)

and a long time Dell board member, took the CFO job at Dell in January 2007. He replaced James Schneider who left amid a

Securities and Exchange Commission

probe into the company's past accounting practices.

Dell's own probe into the matter revealed that it had

manipulated reserve and accrued liability accounts between 2003 and early 2007

to meet its quarterly financial targets. Dell restated its financial reports for those periods in October, removing $92 million from the more than $12 billion of net income earned in that time.

Gladden joins Dell from SABIC Innovative Plastic Holding BV, formerly GE Plastics, where he served as president and CEO. Prior to that, he worked at GE for 20 years in a variety of roles.

Gladden is an "operationally focused CFO whose skills in running multi-billion-dollar enterprises and substantial experience with an industry leader make him an ideal fit for the global economies in which we operate," said Dell CEO Michael Dell in a statement.

Shares of Dell were up 3 cents at $21.34 in midday trading Monday.