Acer's incoming CEO quits before 1 January start date

Acer has been rocked by the resignation of its incoming CEO Jim Wong, who was due to take over the company reins at the start of January.

Wong was announced as the successor to former Acer CEO J.T. Wang, who resigned earlier this month, after the PC vendor posted a worst than expected third quarter loss.

Despite Wang's decision to step down at the start of November, he had initially intended to retain his position as the company's chairman, but has now resigned from that role too.

In a statement released today, Acer confirmed the resignations of both Wang and Wong, and that company founder Stan Shih will be taking over their roles.

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That being said, the position of CEO is being retired and the duties that come with it will pass to the firm's chairman or president. This move is designed to boost the firm's "decision making efficiency", the statement added.

"Despite their resignations, reluctantly accepted by the Board, both J.T. Wang and Jim Wong have committed to remain with Acer as advisors to ensure a smooth transition and transfer of the management team and to help the company back to stability," the statement read.

The company's recent performance has been cited as the cause for their respective resignations.

"Due to the situation that now faces Acer and my personal social responsibilities, I must stand up and take the reign without salary," said Shih.

"I will honour and complete all the public affairs and event engagements I have committed to, but I will also fully support Acer's ICT device business and carry out the company transformation."