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Earlier this month, Acer announced a hard reset: With unexpected, staggering losses in Q3, the company would move forward without CEO JT Wang. At the time, it was understood that Acer President Jim Wong would take over Wang’s responsibilities, but a report from Reuters says that Wong has stepped down, to be replaced by founder Stan Shih. Shih has also been elected the new chairman, and will likely oversee the company’s promised “Transformation Advisory Committee” in hopes to get back on track. The role of CEO has apparently gotten the axe as well — concentrating all the power to Shih for the company’s next moves.