Is Acer Becoming a Family Business?

19 Aug

Maverick Shih, son of Acer’s founder Stan Shih, will take over as head of the company’s Build Your Own Cloud (BYOC) division next year, Taiwanese media reported this week. Acer chairman George Huang will retire and chief executive officer Jason Chen will double as chairman in 2017.

Stan Shih retired from Acer for the first time in 2004 and briefly returned as chairman in 2013 after Acer posted losses in 2011 and 2012. Shih handed over the chairmanship to Huang in June 2014 and and has headed the company’s cloud-computing business since then.

Since 2011 Maverick Shih has been helping develop the BYOC business. After division co-head S.T. Liew’s resignation takes effect in October, Maverick Shih will be the sole leader of BYOC and Acer’s smart devices business. His father plans to allow him to take full control of the BYOC and smart products businesses in the future.

Yet Stan Shih has not decided if his son will sit on Acer’s board next year, as he has not yet consulted his wife, Carolyn Yeh on the subject, market insiders say. Yeh is one of the top 10 largest shareholders in Acer. She and her husband have a combined stake of 3.24 percent in Acer and each has a seat on the board. If Stan Shih and Carolyn Yeh’s son becomes a board director, the family would control three of the board’s nine seats. Market insiders say that situation would make Acer look like a family-run company.

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