Acer revamps with new CEO

Taiwan’s Acer announced a restructuring plan with a new chief executive and seven per cent job cuts yesterday following a worse-than-expected net loss of T$13.12bn (£278bn) in the electronics firm’s third quarter. Acer corporate president Jim Wong will succeed JT Wang as chief executive, while Wang will stay on as chairman until June. The net loss of T$13.12bn reported separately yesterday far exceeded a median forecast loss of T$109m.