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Troubled Acer elects founder as new chairman

by on21 November 2013

Wong man stands down

Troubled Taiwanese computer maker Acer has elected founder Stan Shih as its new chairman and its current corporate president Jim Wong will step down. The outfit announced a restructuring plan earlier this month following several quarters of rubbish results.

Shih will take over as chairman and interim corporate president with immediate effect. The company had said two weeks ago that Wong would succeed J.T. Wang as chief executive while Wang would stay on as chairman until June. The role of CEO will be abolished with its duties transferred to the company chairman or president, the company said.

Wang and Wong will remain with Acer as advisors to ensure a smooth transition and transfer of the management team and to help the company back to stability, the statement said. Earlier this month the company reported a worse-than-expected quarterly loss of $446 million for the June-September period, which prompted then-CEO Wang to resign and the company to announce a seven percent reduction in its

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