Acer apppoints Stan Shih as Chairman and interim Corporate President

AcerFollowing the news that Chairman and CEO J.T. Wang was stepping down after a worse-than-expected loss of T$13.12 billion (US$446 million) last quarter, Acer today announced the appointment of Stan Shih as Chairman and interim Corporate President with immediate effect. If the name is familiar, it’s because Shih is none other than the company’s founder.

When Wang announced his resignation, Acer announced that Corporate President Jim Wong would succeed him as the new CEO from January 1, 2014. But Wong has now also resigned over the company’s recent financial performance. Instead, the company will do away with the CEO position with the responsibilities going instead to the Chairman and President as “this is expected to boost the company’s decision making efficiency.”

Stan Shih said, “Due to the situation that now faces Acer and my personal social responsibilities, I must stand up and take the reign without salary.”

Shih continued, “I will honor and complete all the public affairs and event engagements that I have committed to, but I will also fully support Acer’s ICT device business and carry out the company transformation. In addition, George Huang who is one of my co-founding partners of Acer will join with me and the management team to lead our company at this time.”

Acer is now looking for someone to take over the Corporate Presidency role on a permanent basis.

Source : Acer