ASUS CEO Jerry Shen (first right) leaves, to be succeeded by Samson Hu (first left) and Hsu Hsien-yueh (second left), says Chairman Jonney Shih (secon... ASUS CEO Jerry Shen (first right) leaves, to be succeeded by Samson Hu (first left) and Hsu Hsien-yueh (second left), says Chairman Jonney Shih (second right). (CNA photo)

TAIPEI (Taiwan News) – Asustek Computer (華碩) CEO Jerry Shen (沈振來) announced his resignation Thursday to head for an Artificial Intelligence of Things (AIoT) project to be partly funded by the Taiwanese electronics giant.

Jonney Shih (施崇棠), the chairman of Asustek, which is more widely known under its brand name ASUS, apologized to shareholders for the company’s poor performance at the news conference where he announced Shen’s departure and his succession by the team of Hsu Hsien-yueh (許先越) and Samson Hu (胡書賓), the Central News Agency reported.

A board meeting on Thursday afternoon decided on the personnel changes while also approving a plan to redirect its smartphone strategy and a new AIoT strategy project.

Shih said that on its way to the company’s 30th anniversary next year, ASUS had met with two poorer years, and therefore he needed to apologize to shareholders and friends.

On the one hand, the company needed to face competition in the computer sector, while also taking the initiative and setting up new business sectors, CNA quoted Shih as saying.

Shen was going to set up a new AIoT company in cooperation with other Taiwanese enterprises while staying on as member of an AIoT committee at ASUS, reports said.

The personnel changes announced Thursday will become effective on January 1.