Breyer Leaving Dell Board After Facebook, Wal-Mart Exits
Breyer, a director since 2009, will serve until Dell’s annual meeting, the Round Rock, Texas-based company said in a statement yesterday. Dell, which has agreed to be taken private in a $24.4 billion buyout by Silver Lake Management LLC and founder Michael Dell, didn’t provide a date for the meeting.
Following Facebook’s announcement of the departure last week, Breyer said that he would focus on other responsibilities, including his role with the governing body of Harvard University. Breyer is leaving the corporate boards after a multiyear tenure on each. He’ll use the extra time to focus on Accel’s investments and seek new potentially successful startups, a person familiar with his thinking said. The moves are not health-related, said this person, who asked not to be identified because the reasons are private.
Facebook said on April 26 that Breyer, who personally made hundreds of millions of dollars from an early bet on the social- networking site, was leaving the board. Wal-Mart said earlier in the week that Breyer won’t stand for re-election to the retailer’s board.
Breyer, 51, remains a director at News Corp. (NWS), and Model N Inc., a business-software maker that first sold shares to the public in March. Breyer, who joined Palo Alto, California-based Accel in 1987, also backed video-technology provider Brightcove Inc., online marketplace Etsy Inc. and digital-media streaming company RealNetworks Inc.
In addition to Accel, Breyer runs Breyer Capital, an investment firm he founded in 2006.
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