Originally named Multitech in 1976,
Acer was founded by 32-year-old Stan Shih alongside five other coworkers and his wife, Carolyn Yeh. Under his leadership, Acer grew into a global powerhouse dominating computer hardware and electronics, reaching a valuation of $5.8 billion by 1996. Shih drew inspiration from companies like
Sony for their creativity and
Philips for their journey from a small country to international success. However, Shih returned to Acer to lead its restructuring efforts following a disappointing quarterly performance in November 2013, during which he proposed reducing the workforce by 7 percent to mitigate losses. He officially retired for a second time in June 2014. Shih remained active in charity work during his retirement, including serving as Taiwan's Special Envoy in the
APEC Australia 2007. In November 2013, Shih returned to Acer after being reinstated as president and chairman. Currently, he serves on the boards of
Acer Inc., Taiwan Semiconductor Manufacturing Co., Nan Shan Life Insurance Co., Ltd., Taiwan Public Television Service Foundation and Chinese Television System. He is the chairman of Cloud Gate Culture and Arts Foundation, the head of Taiwan Connection Fun Club, One Song Orchestra Fun Club, the convener of the Cultural Tech Alliance, Taiwan and the chairman of CT Ambi Investment and Consulting Inc. ==References==