Acer CEO resigns amid $446mln financial loss in Q3

London – Acer chairman and CEO J.T. Wang has announced his resignation, as the computer maker reported a net loss of 446 million dollars in Q3.

Wang is step down as Acer CEO on January 1st, but will retain his chairman position until the second quarter of 2014 to assist with existing commitments.

According to the Verge, Acer president Jim Wong will take over as CEO in January in an effort to address the issues of the struggling computer of the company.

Acer is still the fourth-largest PC manufacturer in the world, but the company’s revenues have taken a hit recently as PC sales have slowed across the industry.

The company is also planning to cut its staff by 7 percent globally in an effort to save 100 million dollars in annual operating expenses.

Acer’s PC sales dropped by nearly 35 percent in Q3, highlighting the problems the company faces to turn its business around, the report added.