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Acer CEO Wang resigns after sluggish quarter -- report

Acer President Jim Wong will replace the current chief executive after he steps down at the end of the year, according to reports.

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Acer President Jim Wong (from left), Chairman J.T. Wang, and CMO Michael Birkin.
From left, Acer President Jim Wong, Chairman J.T. Wang, and CMO Michael Birkin. Sarag Tew/CNET

Acer CEO and Chairman J.T. Wang reportedly has decided to step aside.

Bloomberg News reporter Tim Culpan first tweeted about Wang's e-mail statement on Tuesday, announcing that he'll step down at the end of 2013. Acer President Jim Wong will take over as chief executive on January 1.

According to Engadget, which also picked up the news of Wang's reported resignation, the move followed another difficult quarter for Acer, which tallied a massive loss and wrote off some of its investment value in Gateway. Acer, once well on its way to becoming a major player in PCs, has been unable to navigate the increasingly competitive mobile market.

CNET has contacted Acer for comment on the reports. We will update this story when we have more information.