Accel Partners’ Jim Breyer Won’t Return to Dell’s Board
Computing company Dell just announced that Jim Breyer, a partner at venture capital firm Accel Partners and a member of Dell’s board of directors, won’t be returning to its board after the next meeting of shareholders this summer.
In a very brief press release, Dell said Breyer notified the company that he doesn’t intend to stand for reelection at the meeting.
That’s when Dell shareholders will be voting on a controversial $24.4 billion plan hatched by CEO Michael Dell and the private equity firm Silver Lake to take the company private in a leveraged buyout. Breyer’s vote on the matter will likely be among his final acts as a Dell director. Breyer had served on Dell’s board since 2009.
“Dell and its stockholders have benefitted greatly from the leadership and perspective Jim has provided during his tenure on the Dell board,” Michael Dell said in the statment. “We’re grateful for his guidance and we wish him well in all his future endeavors.”
This is Breyer’s third resignation from a high-profile director’s seat in recent days. Only three days ago, Facebook said in a filing with the U.S. Securities and Exchange Commission that Breyer would be stepping down from its board, a position he has held since 2005. And last week, Walmart announced that Breyer would “rotate off the board in accordance with our corporate governance guidelines” after June 7.
He still sits on the boards of video company Brightcove and also of News Corp. (which is, of course, the parent company of AllThingsD.)