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Tuesday, November 05, 2013
Acer Posts Q3 Net Loss, CEO Resigns

Acer reported a net loss of T$13.12 billion ($446 million) in the third quarter, as company aiming to revamp itself with a new CEO.

The PC vendor announced on Tuesday that President Jim Wong will succeed J.T. Wang as CEO from January 1, 2014, and that it will cut its global staff by 7 percent.

J.T. Wang, chairman and CEO of Acer, said, "Acer encountered many complicated and harsh challenges in the past few years. With the consecutive poor financial results, it is time for me to hand over the responsibility to a new leadership team to path the way for a new era."

Stan Shih stated, "After making structural adjustments, we will introduce more competitive products within the existing PC, tablet, and smartphone business and stabilize our market share. This will be the basis of our transformation and for developing new business opportunities."

Regarding Acer's Q3's operating loss, it was mainly due to the gross margin impact of gearing up for the Windows 8.1 sell-in and the related management of inventory, according to the company.

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