Acer CEO resigns following huge quarterly loss


— 9:12 AM on November 5, 2013

It's no secret that Acer hasn't been doing so well lately. The latest figures from Gartner and IDC show Acer's international PC shipments declined by somewhere between 23% and 35% last quarter. As PC World reports, the firm has now gone on to post a huge revenue decline for the quarter—and to replace its CEO.

Acer's loss for the third calendar quarter amounted to 13.1 billion Taiwanese dollars, or $445 million U.S. dollars, and came hand-in-hand with a nearly 12% decline in revenue compared to the same quarter a year ago.

J.T. Wang announced his resignation as Acer's CEO today, stating, "It is time for me to hand over the responsibility to a new leadership team to path the way for a new era." PC World says Wang plans to stay on as Chairman until his tenure expires in June. Jim Wong, Acer's President, will take over as CEO.

The CEO change is only the tip of the iceberg. According to PC World, Acer is also planning a major restructuring in order to boost its competitiveness. As part of that restructuring, 7% of the company's work force will be let go, and a "newly formed advisory committee" will review the company's strategy and propose changes to the board. "Following the changes," PC World adds, "Acer intends to introduce more competitive products in the PC, tablet and smartphone space to stabilize its market share."

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