Acer CEO J.T. Wang has resigned from his position at the head of the Taiwanese computer manufacturer, as the firm posted a net loss of T$13.12 billion (£278m) for the third quarter.
The company announced that president Jim Wong will replace Wang as CEO from 1 January, and that Acer's global workforce will be cut by 7% in a move aimed at saving operational expenses of £62.3m annually from 2014.
Acer said in a statement: "Q3's operating loss was mainly due to the gross margin impact of gearing up for the Windows 8.1 sell-in and the related management of inventory."
The company also said there was an intangible assest impairment loss - including trademarks and goodwill - of T$9.94bn, during the same quarter.
A poll of 16 analysts commissioned by Reuters had forecast a median loss of T$109m for the third quarter for the world's fourth-largest computer maker.
Wang, 59, took up the roles of Acer CEO and chairman in 2005, and in 2010 was ranked second in the Leaders category of Time Magazine's annual list of the 100 most influential people in the world. Wang had worked at Acer since 1981.