Ex-Acer CEO Slapped With Lawsuit for Joining Lenovo
February 7, 2012 5:38 PM
comment(s) - last by
Gianfranco Lanci turned to Lenovo after potential employer Samsung was unable to broker settlement
Taiwan's Acer Inc. (
) is in a troubled spot. The company's PC sales have been
at a time when competitors like Apple, Inc. (
) and the Hong Kong-based Lenovo Group, Ltd. (
) are growing. Acer's tablet
is a flop
. And perhaps most embarassing, the company's new, plain-spoken CEO J.T. Wang assessed the build quality of
his company's products as "cheap"
pieces of electronics, wishing they were more like Apple's sleek offerings.
Likewise the company's ex-CEO Gianfranco Lanci is also in a troubled spot, after his embattled former employer has filed suit against him, in his home nation of Italy.
Mr. Lanci enjoyed a long and prosperous run since he first joined Acer in 1997. In 2005 he
[PDF] of the firm after the retirement of company founder Stanley Shih. He would go on to replace J.T. Wang as CEO (who would later return). Acer scooped up Packard Bell and Gateway to briefly capture the #2 spot in global PC sales in 2007.
Acer saw continued success with its popular netbooks, but ultimately started to slip. Mr. Lanci misjudged the strong demand for smartphones and tablets. To make matters worse, netbooks went from wildly popular
to market duds
. The cumulative effect was two quarterly misses in profit, and an unsold European netbook stockpile that led to a $150M USD writedown.
From fabulous to flop, Acer's ex-CEO Gianfranco Lanci is now being sued for getting a job at one of his company's competitors. [Image Source: CFP]
. But he landed on his feet, quickly scoring a new executive position at Samsung Electronics Comp., Ltd. (
). Samsung -- who is sixth in sales in Mr. Lanci's native Europe (one spot behind his ex-employer Acer)
hoped to negotiate a settlement
with his former employer to void Mr. Lanci's noncompete cause and let him start immediately.
Settlement talks apparently fell through, and Mr. Lanci was back on the market. He then landed a position as a consultant at Lenovo -- potentially a more promising gig. The only problem was that Lenovo was no more able to convince Acer to settle that Samsung was.
Now Mr. Lanci is being sued for unspecified damages for violating his no-compete contract, which was supposed to last 12 months in the case of his departure from Acer. Acer
to to the
, "We believe Mr. Lanci has clearly breached the terms of the non-compete agreement he entered into willingly . . . we believe we have a very robust case."
Mr. Lanci has yet to formally respond to the case, but he previously stated that Acer's failures since his tenure were their fault for
not sticking with his push
to make Acer more of a global company.
This article is over a month old, voting and posting comments is disabled
RE: That's outrageous
2/8/2012 12:33:16 PM
Well, maybe he shouldn't have rode netbooks into the ground if he couldn't afford to be without a job for a year...
"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA
Report: Dell Kills All Netbooks
December 16, 2011, 12:35 PM
Acer Sick of Being "Cheap" and "Unprofitable", Wants to be Like Apple
December 8, 2011, 3:44 PM
Report: Former Acer CEO Gianfranco Lanci Headed to Samsung
July 26, 2011, 1:04 PM
Analysts: Apple Now Has More Than 10 Percent of the U.S. PC Market
July 14, 2011, 1:52 PM
Acer CEO and President Resigns After Second Straight Losing Quarter
March 31, 2011, 7:37 AM
Apple Offers Refurbished 5K Retina iMacs for $2,119 Online
January 16, 2015, 12:37 PM
SanDisk Unveils Pricey iXpand USB 2.0/Lightning Drive to Expand iPhone, iPad Storage
November 13, 2014, 2:29 PM
HP's 15.6" Omen Gaming Laptop is Incredibly Thin, Powerful
November 4, 2014, 10:34 AM
Tim Cook Touts Apple’s Product Portfolio, Performance in Letter to Employees
October 21, 2014, 8:05 AM
Lenovo Once Again The Top Global PC Maker, Apple Takes 50% of PC Profits
October 9, 2014, 7:46 AM
It’s Official: HP to Split Into Two Business Units
October 6, 2014, 8:14 AM
Most Popular Articles
Microsoft Shows Off Latest Windows 10 Build, Preps it for Next Week Release
January 21, 2015, 2:57 PM
Under the Hood: How DirectX 11.3 and 12 Will Supercharge Windows 10 Gaming
January 23, 2015, 12:34 PM
BlackBerry CEO Claims Devs are Violating Net Neutrality by Not Supporting BB10
January 22, 2015, 4:37 PM
Report: Samsung Drops Snapdragon 810 From Galaxy S6, Will Use Its Own Chips
January 21, 2015, 1:47 PM
Will Google Become America's Fifth Major Carrier?
January 22, 2015, 12:42 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information