Acer's Executive Shakeup
Acer, the No. 4 computer maker according to Gartner's 2013 worldwide market share survey, has been dogged by management shakeups in recent months over the company's steep decline in PC sales. First, Acer CEO J.T. Wang stepped down in November after poor third-quarter earnings in which Acer reported a $446 million loss and announced a 7 percent workforce reduction. And that was after the company reported a 33 percent PC revenue drop in June. During the third-quarter announcement, Acer said it will conduct a "comprehensive restructuring and transformation" of the business. Acer named Jim Wong as its new CEO, but two weeks later he abruptly resigned, and Acer founder Stan Shih (pictured) returned to take over the company as chairman and president. Last month, Acer named former Taiwan Semiconductor Manufacturing Company executive Jason Chen as its new full-time CEO.