Want to keep the TNW Conference vibe going?? Tickets for TNW2022 are available now >>

The heart of tech

This article was published on November 5, 2013

    Acer CEO J.T. Wang resigns, will be replaced by company president Jim Wong on January 1, 2014

    Acer CEO J.T. Wang resigns, will be replaced by company president Jim Wong on January 1, 2014 Image by: AFP/Getty Images
    Nick Summers
    Story by

    Nick Summers

    Nick Summers is a technology journalist for The Next Web. He writes on all sorts of topics, although he has a passion for gadgets, apps and Nick Summers is a technology journalist for The Next Web. He writes on all sorts of topics, although he has a passion for gadgets, apps and video games in particular. You can reach him on Twitter, circle him on Google+ and connect with him on LinkedIn.

    Acer CEO and Chairman J.T. Wang (pictured center) announced his resignation today. The firm’s current president, Jim Wong (pictured left), will take up the position of CEO on January 1, 2014. J.T. Wang will then step down as Chairman once his tenure ends in June.

    In this year’s third quarter financial results, Acer reported revenue of $92.15 billion NT (or $3.13 billion USD), up 3.1 percent from the previous quarter but down 11.8 percent year-over-year. “Acer encountered many complicated and harsh challenges in the past few years,” J.T. Wang said. “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.”

    Acer will now undergo significant restructuring, which will include laying off 7 percent of its workforce and cancelling some of the products it currently has in development. The company says this shift will cost $150 million USD, which it will report in its financial results for the fourth quarter of 2013.

    J.T. Wang’s departure follows a similar high-profile resignation by Thorsten Heins, CEO of smartphone maker BlackBerry, less than 24 hours ago.

    Image Credit: Mandy Cheng/AFP/Getty Images