Dell (Nasdaq: DELL) has a new chief financial officer and a broader investment agenda.
After market close Wednesday, the computer maker said it appointed James M. Schneider as CFO to replace Thomas Meredith, who is now a managing director of Dell Ventures. Schneider was Dell's senior vice president of finance.
During Meredith's seven-year as CFO tenure, Dell's stock price has risen more than 10,000 percent. Shares closed Wednesday's regular trading at 53 13/16, down 2 1/16 for the session.
Meredith's move coincides with the company's decision to expand Dell Ventures into an Internet incubator that helps companies with strategy and access to other services.
"We are particularly interested in early-stage companies with products and services which have the potential to create breakthroughs in the evolving Internet age, with an aim to integrate those products and services into Dell's business and drive our future growth," CEO Michael Dell said. "Our investments in these companies will accelerate their development, and allow us to continue to lead the industry in computing and services for the Internet.">