Kevin Rollins has been replaced as CEO of Dell by the founder of the company, Michael Dell. 

While Rollins future role at the company is unclear, he will remain on the Dell board.
On Michael Dell taking over the chief executive role, a company statement says: "There is no better person in the world to run Dell at this time than the man who created the Direct Model and who has built this company over the last 23 years."
The move doesn't come as too much of a surprise to many analysts. In the final quarter of 2006, Dell's shipments of PCs fell by 9% and, for the second consecutive quarter, HP secured top slot in worldwide PC sales.