Acer down: CEO quits

acer-logo-ceAfter turning in a net loss for its third financial quarter, Acer’s CEO and chairman JT Wang three himself on his sword.

The company turned in a net loss of NT$12.949 billion and attributed much of the shortfall to its Gateway, Packard Bell and Founder brands, according to a report on Taiwanese wire Digitimes.

Wang will remain as chairman until June 2014 but his job as CEO goes now to Jim Wong, corporate president of Acer.

Acer had a gross margin of 6.81 percent for the quarter. It’s very exposed to the downturn at the consumer end of the PC market.

That is  underlined by the news it shipped 1.4 million notebooks in October, down 10 percent from September. Digitimes again reported that much of that was due to labour shortages in China, where much of its kit is manufactured.