Dell takes charge, Rollins gets the boot

Dell Inc. (NASDAQ: Dell) announced today that Michael Dell will assume the duties of Chief Executive Officer, effective immediately. Mr. Dell, who will retain his duties as chairman of the board, is replacing Kevin Rollins.

This may not be a total shock if you have read our report on the 10 CEO's that needed to go. Other media reports have also been pointing to Rollins needing to leave. But the announcement comes with some bad news: Dell also said that it expects its fourth quarter fiscal year 2007 results to be below the average of First Call estimates for both revenue and earnings per share.

I don't really care about the warning. I care that Michael Dell is back in charge. A warning is not good, but the focus should be that the company is back in the right man's hands. That is why we said he was one of the most entrenched positions on Wall Street, and he's just the right guy for the job. The focus going forward should be on his vision for the future.

If this stock gets beaten up after it re-opens for trading it because of the guidance; then I think investors should view it as just a better long-term opportunity after the dust settles. CNBC's Maria Bartiromo just asked a guest how long Michael Dell would have to show he can turn it around, which is fairly ludicrous. I would bet money on Michael Dell being the best man for the job any day of the week.

Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.