Acer posted its third quarter 2013 earnings on Tuesday, noting consolidated revenues of NT$92.15 billion ($3.11 billion), down 11.8 percent year-on-year, and an operating loss of NT$2.57 billion (US$86.61 million). The firm attributed its loss to “the gross margin impact of gearing up for the Windows 8.1 sell in and the related management of inventory.”
As a result of the poor showing, Acer CEO J.T. Wang is relinquishing his post. He will remain on as chairman of the board, however, until his tenure expires in June. Acer’s corporate president Jim Wong will serve as the firm’s CEO starting on Jan. 1.
“Acer encountered many complicated and harsh challenges in the past few years,” Wang said in a statement Tuesday. “With the consecutive poor financial results, it is time for me to hand over the responsibility to a new leadership team to path the way for a new era.”
Wang said that he’s optimistic for Acer’s future and that the company has a large reorganization in place. Part of that restructuring will include cutting its workforce by seven percent, Acer said, in addition to the termination of some planned products.