News

Acer rings the changes with board shake-up

Simon Quicke

Acer has made sweeping changes to its board as it looks to get the company heading back in the right direction.

The board changes, backed by shareholders, come after a turbulent couple of weeks for the vendor after it revealed that it had to clear $150m in inventory backlog in EMEA, was axing 300 staff and was cutting bonuses.

The reduction in employee bonuses for 2010 by 40% has been spearheaded by CEO J.T Wang, who bid his own remuneration goodbye as he authorized the inventory write-off.

The staff changes, stock write-off and bonus moves were the first indication that Wang, who stepped into the CEO shoes after Gianfranco Lanci stepped aside at the end of March, is determined to improve the vendor's fortunes.

Acer has reported dips year-on-year in operating income and revenues in its most recent Q4 numbers and has warned that the ongoing sluggishness in the PC market will have an impact.

Two of the board appointments, which last for three years, will be of particular interest with the co-founder of Taiwan Semiconductor Manufacturing Company Dr. F.C Tseng joining the board.

One of the founding members of Vodafone Group, Sir Julian Horn-Smith, also joins the board.

"Acer expects to benefit from the knowledge and experience of Dr. Tseng and Sir Julian, who are both globally distinguished talents. Their contribution from an independent standpoint to the company strategy, along with the Board, will create a strong and well-rounded team to lead the corporation forward and enhance corporate governance," stated Acer.

Related Topics: Desktop PCs, VIEW ALL TOPICS

Join the conversation Comment

Share
Comments

    Results

    Contribute to the conversation

    All fields are required. Comments will appear at the bottom of the article.