Acer's president and replacement CEO abruptly resigns as founder takes helm
Acer's upcoming CEO has abruptly resigned from the troubled PC maker, in a surprise move that will result in founder Stan Shih temporarily taking over leadership.
Two weeks after Acer named Jim Wong to be its next CEO, the PC maker on Thursday announced he was stepping down "in light of the company's recent performance."
Wong, who was formally company president, was originally supposed to replace J.T. Wang as its CEO next year. Now, however, the two executives are both resigning as the CEO position is being eliminated, according to a company statement.
In the interim, Shih will take over as chairman and corporate president. "Former CEO duties will be charged to the Chairman or President and this is expected to boost the companys decision making efficiency," Acer said.
Wang and Wong will remain on as advisors.
The management shakeup occurs as Acer is posting poor earnings on declining PC shipments. The company, now the world's fourth largest PC vendor, has primarily sold products to consumers, but the rise of tablets and smartphones have been eating into its sales.
Earlier this month, Acer said it formed an advisory committee to propose changes to its strategy. Shih was tasked to help lead the committee.
To survive, Acer will have to move into the enterprise sector, building premium consumer PCs, or expanding into new geographic markets, according to analysts.