CFO change at Dell Technologies (NYSE: DELL) as Yvonne McGill exits, David Kennedy named interim

Rhea-AI Filing Summary

Dell Technologies Inc. disclosed that Chief Financial Officer Yvonne McGill will resign as CFO effective September 9, 2025. She will remain a full-time employee through October 31, 2025 in an advisory role to support an orderly transition. The company states that her decision is not due to any disagreement over financial statements, internal controls, operations, policies, or practices.

Under a separation agreement, Ms. McGill will receive a cash payment of approximately $562,500 as a pro rata bonus for fiscal 2026, along with existing protections under her restrictive covenant agreement. The Board has appointed David Kennedy, Senior Vice President, Global Business Operations, Finance, as interim Chief Financial Officer and principal financial officer, effective September 9, 2025. Mr. Kennedy has held senior finance and operations roles at Dell since 2017 and continues to participate in the company’s standard benefit and equity plans while Dell conducts a search for a permanent CFO.

Insights

Corporate governance and leadership transition analyst

Dell announces an orderly CFO transition with an internal interim successor.

Dell Technologies reports that CFO Yvonne McGill will step down as of September 9, 2025, remaining through October 31, 2025 in an advisory capacity. The company explicitly notes that her resignation does not stem from disagreements over financial reporting, internal controls, or operating policies, which helps limit concerns about hidden financial issues based on this disclosure alone.

The separation agreement grants Ms. McGill a pro rata fiscal 2026 bonus of about $562,500 plus previously agreed protections, a structure that appears consistent with senior-executive severance practices. The Board has appointed long-tenured executive David Kennedy, currently Senior Vice President, Global Business Operations, Finance, as interim CFO and principal financial officer effective September 9, 2025, while a search is underway for a permanent CFO.

Because the interim appointee is an internal leader with extensive prior finance and operational roles at Dell, this transition reflects continuity rather than a strategic shift. The long-term implications will depend on who is ultimately chosen as permanent CFO and any future disclosures about changes in financial or strategic priorities that may accompany that appointment.

0001571996false00015719962025-09-052025-09-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549  

FORM 8-K

 CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 5, 2025

 ______________________

Dell Technologies Inc.

(Exact name of registrant as specified in its charter)

 ______________________

Delaware

001-37867

80-0890963

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

One Dell Way
Round Rock,			Texas						78682
(Address of principal executive offices)									(Zip Code)

Registrant’s telephone number, including area code: (800) 289-3355

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Class C Common Stock, par value $0.01 per share			DELL			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) and (e) On September 5, 2025, Dell Technologies Inc. (the “Company”) and Yvonne McGill, the Company’s Chief Financial Officer, agreed that Ms. McGill will resign from her position as the Company’s Chief Financial Officer effective on September 9, 2025. Ms. McGill will serve in an advisory role to assist with an orderly transition and will remain a full-time employee of the Company through October 31, 2025, which is the last day of the third quarter of fiscal year 2026. Ms. McGill’s decision to resign her position is not the result of any disagreements with the Company on any matter relating to its financial statements, internal control over financial reporting, operations, policies or practices.

The Company has entered into a separation agreement with Ms. McGill that provides for a general release and waiver of claims against the Company and other matters relating to the termination of her employment (the “Separation Agreement”). Subject to specified conditions, the Separation Agreement provides that Ms. McGill will receive a cash payment reflecting a pro rata bonus for fiscal 2026 in an amount equal to approximately $562,500, in addition to the entitlements provided pursuant to Ms. McGill’s Protection of Sensitive Information, Noncompetition and Nonsolicitation Agreement.

(c) In connection with Ms. McGill’s departure from the position of Chief Financial Officer, David Kennedy, Senior Vice President, Global Business Operations, Finance, has been appointed by the Company’s Board of Directors to act as the Company’s interim Chief Financial Officer, in which position he will serve as the Company’s principal financial officer, effective on September 9, 2025.

Mr. Kennedy, age 48, has served in various positions with the Company since September 1998. Mr. Kennedy has served as Senior Vice President, Global Business Operations, Finance, since February 2023 and, prior to that service, as Senior Vice President and Chief Operating Officer for Global Sales, since February 2020, and as Senior Vice President and Chief Financial Officer of the Company’s Client Solutions Group since April 2017.

Mr. Kennedy will continue to be eligible to participate in severance, retirement, welfare and benefit plans and programs generally available to other employees of the Company, including the Dell Technologies Inc. 2023 Stock Incentive Plan, which is described in the Company’s proxy statement for its 2025 annual meeting of stockholders, filed on Schedule 14A with the Securities and Exchange Commission on May 16, 2025.

Information referred to in Item 5.02(c)(3) of Form 8-K has not been determined as of the date of this report.

The Company has initiated a search to identify a permanent Chief Financial Officer.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 8, 2025			Dell Technologies Inc.
			By:			/s/ Christopher A. Garcia
						Christopher A. Garcia Senior Vice President and Assistant Secretary
						(Duly Authorized Officer)

3

FAQ

Why is Dell Technologies (DELL) changing its Chief Financial Officer?

Dell Technologies reported that Chief Financial Officer Yvonne McGill agreed to resign from her CFO role effective September 9, 2025. The company states that her decision is not due to any disagreements regarding financial statements, internal control over financial reporting, operations, policies, or practices.

When does Yvonne McGill officially leave Dell Technologies (DELL)?

Yvonne McGill will step down as Chief Financial Officer effective September 9, 2025 and will remain a full-time employee through October 31, 2025 in an advisory role to support an orderly transition.

What separation benefits does Dell CFO Yvonne McGill receive?

Under a separation agreement, Yvonne McGill will receive a cash payment equal to an approximately $562,500 pro rata bonus for fiscal 2026, in addition to entitlements under her Protection of Sensitive Information, Noncompetition and Nonsolicitation Agreement.

Who is Dell Technologies' interim CFO after Yvonne McGill resigns?

Dell’s Board has appointed David Kennedy, Senior Vice President, Global Business Operations, Finance, as interim Chief Financial Officer and principal financial officer, effective September 9, 2025.

What is David Kennedy’s background at Dell Technologies (DELL)?

David Kennedy, age 48, has worked at Dell since September 1998. He has served as Senior Vice President, Global Business Operations, Finance, since February 2023, previously as Senior Vice President and Chief Operating Officer for Global Sales since February 2020, and as Senior Vice President and Chief Financial Officer of Dell’s Client Solutions Group since April 2017.

Is Dell Technologies (DELL) searching for a permanent CFO?

Yes. Dell Technologies states that it has initiated a search to identify a permanent Chief Financial Officer while David Kennedy serves as interim CFO.