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Two Dell directors won't seek re-election to board

A veteran of the company's board and a relative newcomer will step down in July.

Michael Miles and Alan (A.G.) Lafley are stepping down from Dell's board of directors in July when their terms end, Dell announced Thursday.

Dell board member Michael Miles
Michael Miles Dell
Alan Lafley Dell board member
Alan (A.G.) Lafley Dell

Miles, a special limited partner of private equity firm Forstmann Little & Co., has been a member of the PC maker's board for 14 years. He was formerly CEO of Philip Morris.

Lafley has been a board member for just under three years. He steps down to spend more time at his day job as chairman and CEO of Procter & Gamble, according to Dell.

Miles is the chairman of the board's Government and Nominating Committee, and a member of the Leadership Development and Compensation Committee, of which Lafley is chairman. Lafley also sits on the Finance Committee.

Dell says it has already started looking for successors for the pair. The company is due to report its fourth quarter earnings next Thursday.