Digitimes reports that Asustek Computer posted a note on the TSE (Taiwan stock exchange) to refute a rumour that ASUSTEK company CEO and president Jerry Shen had resigned his position on July 1 due to the company’s poor performance in the second quarter.

This rumour has been circulating it Taiwan IT industry for some time. It is said that the CEO resigned due to poor product shipments and higher losses than expected due to exchange rate losses in the second quarter. This has resulted in a dip of daily maximum of 7% or NT$16.5 (US$0.51) to NT$223 on July 1. This probably triggered Asustek to issue the statement to curb further loses to it’s shares due to speculation and rumour.