Acer's next CEO steps down before even starting, as retired founder takes over

It's all change at Acer at the moment. Just 15 days after CEO and Chairman JT Wang stepped down, the man set to replace him, Jim Wong, has also left the business. The changes come after Acer posted a huge loss and wrote-off value from sub-brands Gateway and Packard Bell, apparently sealing the fate of the executives. In the wake of the news, founder Stan Shih will come out of retirement and assume the role of chairman and interim president "without salary," with co-founder George Huang joining the new-look old-school management team. Following today's reshuffle, Shih will have to make day-to-day decisions for the company. While Wang and Wong may have taken the blame for Acer's recent poor performance, both will hang around "to ensure a smooth transition."

[Image Credit: Bloomberg]