The troubled PC maker Acer is losing its CEO and Chairman next month.
Stan Shih has said he will retire next month to make way for “fresh blood” to sort out the company’s woes.
Shih is 69 and is overdue for his gold watch and this is the second time he has retired. He quit once before when it was still known as Mutitech. He returned in November last year as president and chairman, replacing CEO JT Wang and president Jim Wong after the biz reported a net third-quarter loss of £260 million.
So far the old blood has not been much chop and Acer has been losing ground on its rivals. He thinks that fresh blood will turn the Taiwanese firm’s fortunes around and succeed in a cloud computing area.
To be fair to the old blood, all PC makers experienced year-on-year declines in the first quarter of 2014, Acer was leap-frogged by closest rival Asus, bumping it down into fifth spot globally with a market share of 6.5 percent.
However Acer also had problems of its own when Taiwanese coppers raided the outfits HQ last month and arrested ten current and former employees on suspicion of "violating the Securities and Exchange Act" and "conducting insider trading".
It appears that some fund managers dumped their shares in Acer just before Wang and Wong’s sudden exits from the company.
So far there is no news on who is providing the new blood and we have to admit that this is the first time we have heard of an IT outfit turning to blood sacrifice since the Aztechs.