ASUS sees departure of CEO Jerry Shen

ASUS announced CEO Jerry Shen will be stepping down on January 1, 2019. He's departing after 11 years at the helm of ASUS and a total career of 25 years at the company. Shen will lead iFast, a new ASUS-backed (30%) startup that focuses on AI and the Internet of Things.

Shen will be replace by two executive; SU Hsu will continue to lead the PC business, while Samson Hu will focus on customer care services. ASUS just reported its lowest yearly profit since 2010 and took a one-time charge of NT$6.2 billion (~$201 million) to cover losses from inventory, various costs, advance royalties, and other expenditures incurred by the strategy shift.

The firm will no longer make mainstream smartphones, but will focus on devices for gamers and power users:

In addition to the management reorganization, ASUS is shifting its smartphone strategy, as announced in mid-November. From now on, the company will focus on specialized smartphones aimed at gamers and ‘power’ users, as opposed to focusing on mainstream handsets. The company apparently wants to address gamers and other users with unique needs (and currently do not have a lot of choice) with its upcoming smartphones, though ASUS needs to detail its strategy going forward.

Full details at AnandTech.