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...
“We do believe we have a moral responsibility to keep porn off the iPhone.” -- Steve Jobs
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
ZOTAC Announces Diminutive ZBOX PI320 pico
August 27, 2014, 9:00 AM
Quick Note: QNAP Announces $129 QGenie 7-in-1 NAS for Mobile Users
July 14, 2014, 9:32 AM
Apple Launches 21.5” iMac with 1.4GHz Core i5 Processor Priced at $1,099
June 18, 2014, 8:07 AM
Lowe's "Holoroom" Brings Holodeck, Home Improvement Dreams Closer to Reality
June 13, 2014, 9:06 AM
Intel to Broaden Market for Fanless Tablets, Ultrabooks with 14nm Intel Core M
June 3, 2014, 10:42 AM
ZOTAC Announces Four New Silent ZBOX Mini-PCs
June 2, 2014, 9:21 AM
Most Popular Articles
HTC Preps Nexus 9 With Nvidia K1 64-Bit "Denver" SoC, Android L Onboard
September 10, 2014, 10:21 PM
Dell Announces "World's Thinnest" Tablet: The Venue 8 7000 Series
September 11, 2014, 8:51 AM
Apple iPhone 6, iPhone 6 Plus Reviews Roll In
September 16, 2014, 9:13 PM
Samsung Calls Out “Copycat” Apple for 5.5” iPhone 6 Plus in New Ads
September 14, 2014, 11:06 PM
Confirmed: Next Generation of Windows to Be Announced on September 30
September 15, 2014, 4:43 PM
Latest Blog Posts
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information