toggle

AAPL Stock: 109.22 ( -1.15 )

Printed from http://www.macnn.com

Acer founder takes control of company, CEO and president step down

updated 12:06 pm EST, Thu November 21, 2013

Stan Shih heads up PC manufacturer as it tries to save itself

Acer founder Stan Shih is taking control of the company, just weeks after CEO and Chairman JT Wang revealed his resignation following stagnating PC sales. The changeover, with immediate effect, effectively eliminates the role of CEO at the PC manufacturer, and changes the leadership over a month before the expected transfer on January 1, 2014.

The original plan saw company president Jim Wong being moved to the CEO position, but a press release received by The Verge states that both Wang and Wong have stepped down to make room for Shih as chairman and interim corporate president. The company will apparently hand the presidency to an "appropriate candidate as soon as possible."

Wang and Wong will be retained to advise the management team during the management transfer, as well as to help the company towards stability in the future. The duties performed by the now-removed CEO position will now be passed on to the chairman or president, with the expectation that it will "boost the company's decision making efficiency."

"Due to the situation that now faces Acer and my personal social responsibilities, I must stand up and take the reign with salary," said Shih, who also revealed that George Huang, a co-founding partner of Acer, will be joining the management team.

Acer's most recent results saw a $446 million net loss in the third quarter, and revealed plans to cut seven percent of its staff to save $100 million in annual operating expenses. Shipments were down 22.6 percent year-on-year, with the state of the netbook market largely to blame, while its tablet shipments also had a similar tumble.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

toggle

Most Commented