Founder of Taiwan's Acer returns as chairman

Nov 21, 2013

Taiwan's struggling personal computer maker Acer announced Thursday that it has named its founder Stan Shih as the new chairman and interim corporate president.

Shih replaced chairman and CEO J.T. Wang and corporate president Jim Wong, who resigned earlier this month after the reported a net third-quarter loss of Tw$13.1 billion ($442.2 million).

The board of directors approved Shih's appointment with immediate effect and Acer said it will hand over the corporate presidency to an appropriate candidate as soon as possible.

"Due to the situation that now faces Acer and my personal social responsibilities, I must stand up and take the reins without salary," Shih said in a statement, pledging to support the company's transformation.

George Huang, a co-founder with Shih, will join the management team. Wang and Wong will both remain as advisers to ensure a smooth transition, the company said.

Acer said its board also decided to scrap the CEO position and transfer its duties to the or , to try to improve decision-making.

The company has said the third-quarter loss resulted from a rise in inventory levels and from one-time compensation payments related to longstanding litigation.

Shipments of Acer's notebooks, tablet PCs and Chromebooks are expected to fall 10 percent in Q4 compared to the third quarter, it said.

In the face of the tough outlook, Acer has set up a business restructuring group led by founder Shih and co-founder Huang. It envisages a seven percent cut in the number of global employees next year.

Explore further: Jury says Silicon Valley firm did not discriminate (Update)

Related Stories

Taiwan Acer CEO resigns over 3Q widening loss

Nov 05, 2013

J. T. Wang resigned as chairman and CEO of Acer Tuesday as the Taiwanese personal computer maker reported a net third-quarter loss of Tw$13.1 billion ($442.2 million).

Acer pledges efforts to rebound amid slowing sales

Apr 01, 2011

(AP) -- Taiwan's Acer Inc. has pledged to meet new challenges in the slowing PC market after it replaced its top executive as sales fall amid competition from tablets and other devices.

Taiwan's Acer swings to profit in Q1

May 07, 2013

Taiwan's leading personal computer maker Acer said Tuesday it swung to profit in the first quarter of 2013 thanks to income from foreign exchange and stock sales.

Taiwan's Acer swings to loss in April-June quarter

Aug 07, 2013

Taiwan's leading personal computer maker Acer on Wednesday reported a net loss of $11.39 million in the April-June quarter mainly due to increasing expenses on investments and declining gross margins.

Recommended for you

Intel in talks with Altera on tie-up

Mar 27, 2015

US tech giant Intel is in talks with rival Altera on a tie-up to broaden the chipmaker's product line amid growth in Internet-connected devices, the Wall Street Journal reported Friday.

Apple chief Cook to give his wealth away: Fortune

Mar 27, 2015

Apple chief Tim Cook is joining Mark Zuckerberg, Bill Gates and other technology titans who have vowed to donate their wealth to charities, according to a report in Fortune magazine.

BlackBerry tops 4Q profit forecasts

Mar 27, 2015

BlackBerry posted a surprise profit in the fourth quarter, but saw a sharp drop-off in revenue as the once-iconic smartphone company said it reached the halfway mark of its turnaround effort.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.