“Taiwan’s Quanta Computer, the world’s top contract notebook PC maker, said its chief executive quit on Friday, reportedly following a strategy row, sparking a rally in its stock on merger speculation,” Sheena Lee and Argin Chang report for Reuters.
“Michael Wang’s resignation had been rumored for the past few months following an extended period of leave. The company announced that acting CEO and co-founder C.C. Leung had taken over with immediate effect,” Lee and Chang report.
“Wang, who has been with Quanta for about 19 years, has helped win orders from major clients including top brands such as Apple Inc., Hewlett-Packard Co., Dell Inc. and Sony Corp.,” Lee and Chang report.
“Quanta shares closed up 4.3 percent at T$55.30, beating a 0.5 percent dip on the TAIEX index” Lee and Chang report. “Analysts said the rise in the stock was a result of market rumors that Quanta could merge with Taiwan’s top electronics maker, Hon Hai Precision Industry Co., and that the possibility of such a deal could increase with Wang’s departure.”
Full article here.
MacDailyNews Take: Looks like it’s going to be one of those days: the dreaded dog day Friday in August. Steve, please bike on over to the Palo Alto store and start handing out iPhones like they’re Wonka Bars or something – anything – we’re begging you!