Taiwan's high-tech industry pioneer Stan Shih cofounded Acer. Over the years Shih guided his company through several corporate restructuring processes as well as financial ups and downs of the 1980s and 90s. In a significant restructuring in 2000 Acer spun off its lucrative contract manufacturing business and renamed it Wistron Corporation. This helped position Acer on a growth curve in several markets. When Stan Shih retired in early 2005 Acer's branded products had strong sales figures worldwide, and the company was poised to make a larger impact in the U.S. market through its desktop and notebook PCs.