Michael Dell, 39, has announced his resignation as chief executive of Dell Inc. The resignation takes effect in July. Dell founded the company 20 years ago as a student working from his dorm.

Kevin Rollins, chief operating officer and Dell's right hand man, will take over the CEO position in July. The two men have worked side by side for years, with the glass door separating their offices always being open.

Dell will remain involved in the business, staying on as chairman.