Michael Dell, who remains chairman of the company's board, replaces Kevin Rollins, who resigned as CEO and from the company's board of directors, according to a statement from the company.
Dell (Round Rock, Texas) also said the company it expects its results for the fourth quarter of fiscal 2007 to be below the average of First Call Estimates for both revenue and earnings per share.
Michael Dell founded the company in 1984. He served as CEO until 2004.
"I am enthusiastic about Dell 2.0, which includes our plan to provide the best customer experience, build a strong global services business and ensure our products deliver the best long-term customer value," said Michael Dell.