Acer elects new board in wake of channel stock woes

Shareholders approve new board and plans to slash employee bonuses by 40 per cent

Beleaguered PC vendor Acer has ushered in a new board of directors to help steer the company away from its recent woes.

The firm hit the headlines earlier this month after announcing plans to invest $150m (£92m) in trimming down its channel stock levels across EMEA.

As part of the deal, the firm's board and supervisors also agreed to take a 50 per cent pay cut.

In a further announcement today, Acer confirmed that its shareholders have approved plans to slash employee 2010 bonuses by 40 per cent, saving the firm NT$600m.

The company's new seven-member board of directors is expected to serve for three years.

The board now features two independent directors, including former Vodafone chief executive Sir Julian Horn Smith and Taiwan Semiconductor Manufacturing Company founder Dr FC Tseng.

In a statement, Acer said: "Their [Horn Smith and Tseng's] contribution from an independent standpoint, along with the board, will create a strong and well-rounded team to lead the corporation forward and enhance corporate governance."