Acer (News - Alert) seems to have righted what was thought to be a sinking ship and company Co-Founder Stan Shih is stepping down from his role of chairman as a result. Shih had spent the last six months as the computer company’s chair and is doing so because he is “happy with the direction of the company.”
Shih talked to the media about his departure on Monday and commented on the direction of Acer saying, "The hope is that the company will soon break even and start making money again.” Acer said it will be holding a new board in June and that board will select a new chairman.
Shih has been leading a major reorganization of Acer which was once known only as a firm that offered PCs that were deeply discounted compared to firms like Samsung (News - Alert) and Sony. Acer has recently taken a step into other markets including the wearable technology vertical.
Part of the reorganization has been for the company to get new leadership in various parts of the firm. Acer hired a new CEO in the last six months and in addition to wearable tech it is looking to lean on software and services to help revive its business. The company is still looking at working on devices like the Google (News - Alert) Chromebook but it appears its focus will be moving away from desktop and laptop computers.
All of these moves come as the firm feels the pinch of a continually flailing PC market. Acer has been posting consecutive net losses for months and even had to cut its workforce by 7 percent last November. Shih claims the bleeding has been stopped and he can now step aside to let the company welcome in new leadership. Shih says he believes Acer will start posting quarters in the black very soon and that will allow him to fade back into the background.