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Stan Shih
Acer founder Stan Shih has come out of retirement and returned to the company

Acer Inc.'s CEO resigned less than a month ago. Now, it has lost yet another CEO -- and the company's founder is taking matters into his own hands.

According to a new report from Bloomberg, Acer President Jim Wong -- who was set to take over as CEO at the beginning of next year -- has resigned. He will not take on the CEO position in 2014.

To fill the gap, Acer founder Stan Shih has come out of retirement and returned to the company as chairman and president. 

In fact, Shih has scrapped the CEO role entirely. There will only be the chairman and president roles, both of which Shih is currently filling until new candidates come along to take over.

Shih started Acer in 1976, and finally entered retirement nine years ago. His return marks the trouble Acer is in, and the fact that the company could use some guidance. 

The good days for Acer were about four to five years ago. It became the largest laptop company by the first quarter of 2010 after buying up competition like Gateway Inc., Packard-Bell and eMachines. 

But once new devices came around, like Apple's iPad (introduced in early 2010), Acer's notebooks didn't seem as appealing. An explosion of tablets has hit the scene since, and now wearable devices are the next phase of the tech evolution. Acer has clearly fallen behind as the PC industry continues to shrink.

For Q3 2013, Acer posted a wider-than-expected net loss of T$13.12 billion ($446 million USD). Analysts only expected a loss of around T$109 million for the quarter. Acer's PC sales also dropped by almost 35 percent in the quarter as well.

Acer added that there was an intangible asset impairment loss of T$9.94 billion for Q3, which includes trademarks and goodwill. As a result, the company plans to cut its global staff by 7 percent in an effort to save $100 million in annual operating expenses. 

As a result of that poor quarter, former Acer CEO J.T. Wang resigned at the beginning of November. Wong was set to step in in the beginning of 2014, but he has also stepped down. 

Now we'll just have to wait and Shih.  

Source: Bloomberg





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