There was more turmoil at the top table of embattled vendor Acer today, with new CEO Jim Wong resigning before he had even started the job.
He will be replaced, in effect, by company founder Stan Shih, who has coming out of retirement to retake the helm after being appointed corporate president with immediate effect. Wong is following JT Wang – the man he was due to replace as chief executive – out the door. According to a press statement issued by Acer today, the two men "have both stepped down in light of the company's recent performance".
After soaring up the PC market rankings in 2010 to within touching distance of the global top spot, Acer endured a torrid year in 2011. The vendor has never looked likely to return to the heights it hit three years ago, and recent results for the this year's third quarter brought yet more gloom. Quarterly sales dropped 11.8 per cent annually to $3.1bn (£1.9bn) as operating losses reached $86.6m.
Following the publication of the results, Acer announced it would be undertaking a structural overhaul of the company, resulting in a reduction in worldwide staff numbers of about seven per cent. The company also announced that Wang would be leaving after several years in charge, and that Shih would come out of retirement to help run the Transformation Advisory Committee.
Having "reluctantly accepted" the resignations of Wang and Wong, the 68-year-old founder has now resumed full executive responsibility as chairman and corporate president, with the CEO position being retired for the time being. But the departing duo "have committed to remain with Acer as advisers to ensure a smooth transition and transfer of the management team, and to help the company back to stability".
Shih said: "Due to the situation that now faces Acer and my personal social responsibilities, I must stand up and take the reign (sic) without salary. I will honour 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."
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