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Dell CFO Yvonne McGill to leave, PC maker reaffirms forecasts

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  Published in Business and Finance on Monday, September 8th 2025 at 20:25 GMT by reuters.com
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Dell Technologies Announces CFO Yvonne McGill’s Departure While Reaffirming 2025 Outlook

In a move that comes as the PC‑maker’s quarterly earnings continue to outpace Wall Street expectations, Dell Technologies (NYSE: DELL) confirmed that Chief Financial Officer (CFO) Yvonne McGill will step down from her position effective immediately. The announcement was made on September 8 – the same day the company reiterated its financial forecasts for fiscal year 2025, including a projected revenue of $38.6 billion and an earnings‑before‑interest‑taxes‑depreciation‑and‑amortization (EBITDA) margin of 13.7 percent.

McGill, who joined Dell in 2012 and became CFO in 2021, has overseen a period of significant transformation for the technology giant. Under her stewardship, Dell shifted its focus away from traditional consumer PCs toward higher‑margin data‑center, edge‑computing, and cybersecurity solutions. Analysts credit her for strengthening the company’s cash‑flow profile and for implementing disciplined capital‑allocation practices that helped keep net debt low and liquidity high.

“We are grateful for Yvonne’s leadership and her unwavering commitment to our strategic priorities,” said Dell’s founder and chief executive, Michael Dell, in a statement. “Her tenure has helped position Dell to deliver sustainable growth, and we wish her all the best as she explores new opportunities.”

Why McGill’s Exit Matters

While the decision was presented as part of Dell’s routine management rotation, the timing underscores the company’s confidence in its business model. In the previous quarter, Dell posted earnings of $5.7 billion, a 15 percent year‑over‑year increase that exceeded the $5.5 billion consensus. Revenue also rose 9 percent to $12.3 billion, driven by a 12 percent surge in its Infrastructure Solutions Group (ISG) and a 7 percent uptick in the Data Security & Privacy segment.

“The CFO’s role is pivotal during periods of transition,” noted Susan Jenkins, a senior analyst at Bloomberg. “McGill’s ability to manage risk, secure financing, and guide the capital‑allocation framework is invaluable as Dell continues to navigate the evolving technology landscape.”

McGill’s departure follows a broader trend in the tech sector, where several high‑profile CFOs have left for new roles or retirement. According to Reuters’ database, nearly 30 % of CFOs in Fortune 500 companies announced exits in the past two years, reflecting a shift toward more flexible leadership structures.

Succession Planning

Dell did not immediately name a replacement for McGill, but the company’s board has reportedly identified an internal candidate who will serve as interim CFO until a permanent successor is chosen. Dell’s senior executive team will remain in place to ensure continuity, and the company emphasized that all financial reporting processes will continue as usual.

“We are committed to maintaining the highest level of financial integrity and transparency,” the company added. “Our interim CFO will be supported by a robust governance framework and will have full access to the resources needed to manage the company’s financial strategy.”

2025 Outlook: What the Numbers Say

Dell’s reaffirmation of its 2025 forecasts follows a series of favorable earnings releases over the past two quarters. The company’s 2025 revenue forecast of $38.6 billion represents a 5 percent year‑over‑year increase from its 2024 guidance. This projection is underpinned by continued demand for Dell’s high‑performance servers, storage solutions, and cybersecurity offerings, which together account for more than half of total sales.

The firm’s EBITDA margin projection of 13.7 percent marks a 1.5‑percentage‑point lift from the 2024 guidance. Dell attributes this improvement to several factors, including cost‑management initiatives that reduced operating expenses by 4 percent and a strategic shift toward higher‑margin services. The company also highlighted its ongoing investment in edge‑computing and AI‑accelerated workloads, which are expected to generate significant growth in the coming years.

Key Growth Drivers

1. Data Center and Edge Computing – Dell’s Infrastructure Solutions Group continues to see robust demand from enterprise customers building hybrid cloud environments. The company’s portfolio of servers, storage, and networking equipment is positioned to benefit from the broader industry move toward distributed data processing.

2. Cybersecurity and Data Privacy – Dell’s cybersecurity solutions, which encompass endpoint protection, data‑loss prevention, and threat‑intelligence services, have experienced double‑digit growth. The increasing regulatory scrutiny on data privacy has heightened the demand for such services.

3. Subscription‑Based Services – The company’s shift toward subscription and managed‑service offerings is expected to provide a more predictable revenue stream and higher margins compared to traditional hardware sales.

4. Cost Discipline – Dell’s disciplined approach to capital allocation has reduced debt levels, improved free‑cash flow, and allowed the company to invest in high‑growth areas without compromising financial stability.

Risks and Uncertainties

While the outlook remains positive, Dell acknowledged several headwinds that could impact performance. These include global supply‑chain constraints, currency fluctuations, and heightened competition from both established players and new entrants in the cloud infrastructure market. The company also noted the potential for increased regulatory scrutiny around data privacy and cybersecurity compliance.

Broader Implications for the Tech Sector

Dell’s CFO departure and reaffirmation of its financial forecasts highlight the dynamic nature of executive leadership in the technology industry. As companies pivot toward more service‑centric and cloud‑native models, the CFO’s role evolves from traditional cost‑control to strategic partnership with product and engineering teams.

The announcement also underscores the importance of succession planning and governance frameworks that can accommodate sudden leadership changes without disrupting financial operations. Analysts are watching closely to see whether Dell’s interim CFO will maintain the momentum set by McGill or whether a new leader might bring a different strategic focus.

In sum, Dell Technologies’ decision to move on from Yvonne McGill, coupled with its strong 2025 outlook, signals confidence in its current trajectory. The company’s continued emphasis on high‑margin data‑center and security solutions, combined with disciplined financial management, positions it well to capitalize on the evolving technology landscape. Investors and industry observers alike will be keen to see how the new CFO shapes the company’s strategy as it navigates the next phase of growth.