Started back in 1976 as Multitech Electronics Inc., Acer was founded by engineer Stan Shih, his wife Carolyn Yeh, and a group of partners. Shih would serve as President and Chairman of Acer Inc., and is still with the company today, serving on the Acer board as Honorary Chairman. During his tenure leading Acer, Shih structured the company differently from the norm at the time for the region. Acer remains independent with control of the company residing in a board of directors and shareholders. This means that no singular person or group owns Acer outright.