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Acer CEO Resigns as Company Posts Disappointing Financial Results

Acer CEO Resigns as Company Posts Disappointing Financial Results

 

Following the company's report of disappointing financial results in Q3, Acer chairman and CEO JT Wang has announced his resignation. 

According to Engadget, Wang expressed his regrets in an email statement that he was unable to lead the company to prosperity and takes full responsibility for the huge financial losses. Acer reported a net loss of $446 million in Q3 and has plans to retrench staff globally by 7% to save $100 million in annual operating expenses.

Wang will officially step down as CEO on 1st January 2014 and his role will be taken over Acer President Jim Wong. However, Wang will retain his chairman position until Q2 2014 to assist with existing commitments.

Earlier this year, Acer announced that it will be posting another year of loss  due to the inability of Windows 8 to excite consumers. Wong is said to be optimistic about Google's Chrome platform and believes that it will be sustainable in the long term.

This news came a day after BlackBerry announced that its current CEO Thorsten Heins will step down after the company closes the US$1 billion investment transaction in about two weeks.

Source: Engadget via The Verge

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