Acer CEO resigns as company posts record loss

Just 24 hours after one tech heavyweight lost its CEO, another has been forced to bow out of the game. After his company posted a huge loss and wrote off a chunk of value from sub-brands Gateway and Packard Bell, Acer CEO and Chairman JT Wang has decided to resign. In an email statement, the executive expresses regret that he couldn't lead the firm back to prosperity and takes responsibility for the recent spate of huge losses. In the wake of the news, current president Jim Wong will assume the role of CEO on January 1st, while company founder Stan Shih will head up a transition committee as JT Wang serves the remainder of his tenure as chairman -- which is due to end in June of next year.