Acer cuts CEO position and lets founder lead company

Acer is temporarily scrapping the position of CEO. The management of the company will be in the hands of founder Stan Shih, whose official title is Corporate President. The removal of the CEO should enable faster decisions in the company.

Acer’s previous CEO, JT Wang, resigned a few weeks ago following the company’s poor results. It was intended that board chairman Jim Wong would take over as CEO from January, but a committee led by Shih has now decided that all power should rest with Shih. The board has accepted the new structure and the resignation of Wang and Wong, say Acer.

Shih’s position is temporary, the company emphasizes. The intention is that the leadership will eventually be in the hands of another director. Acer has financial problems and hopes to get out of it under Shih’s leadership. Acer suffered a loss of 328 million euros in the past quarter, it appeared at the presentation of the quarterly figures.