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Acer shares jump following CEO appointment and management reshuffling

Matthew Jarvis
Acer shares jump following CEO appointment and management reshuffling

The recruitment of a new CEO and resignation of three senior executives at Acer as part of a management reshuffle has led to a boost for the firm’s shares.

Jason Chen, formerly senior vice president of worldwide sales and marketing at the Taiwan Semiconductor Manufacturing Company, has been recruited as president and CEO, while Walter Deppeler, head of commercial-business global operations, Arif Maskatia, chief technology officer, and Dave Chen, general manager of Chinese smartphone operations for Acer, have left the company.

“Jason is an excellent manager with extensive management experience and proven execution capability,” Acer chairman Stan Shih said of Chen’s appointment.

“Acer’s search committee met with him on several occasions for in-depth dialogue and exchange of views. We consider him to be the ideal executive to lead our transformation with his wealth of new thinking, international perspective, and willingness to face this challenge. Moreover, he shares the consensus on our strategy and development for Acer’s future.”

The move resulted in a 6.18 per cent jump in shares for the PC maker in the days following the announcement.

“A series of management reshuffles within Acer showed the company's determination to make changes after facing significant losses in the first nine months of this year, although it remains to be seen whether and how the reshuffles will really help,” commented MasterLink Securities analyst Tom Tang.

“We are keeping a close eye on its performance for 2014 as the company is making a good amount of effort in restructuring.”

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Tags: Acer, Shares, management, stock, ceo, appointment, Jason Chen

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