HTC co-founder Cher Wang takes over as CEO, Peter Chou gets new role

HTC co-founder Cher Wang takes over as CEO, Peter Chou gets new role

HTC today announced a major change in its top-level management as the Board of Directors has named its Chairwoman and co-founder Cher Wang as CEO. The new appointment has replaced Peter Chou, who will now get a strategic role to lead future product innovation.

The transition is speculated as the result of HTC’s hardships that it has been facing from past couple of years due to poor sales of smartphones in the global markets compared to its close competitors such as Apple and Samsung.

HTC says in a press statement that former CEO Chou will lead product innovation under the HTC Future Development Lab, and will focus on identifying its growth opportunities.

Chou has been working with HTC since its formal establishment in 1997 and has so far brought many new changes to the company to expand its business in the global markets. Among all the changes, he partnered with Facebook’s Mark Zuckerberg for the development of HTC First smartphone and launched new product lines such as HTC Re periscope-shaped action camera and HTC Grip wearable fitness tracker.

“We are seeing rapid changes in the industry, with the smartphone as our personal hub connecting us to a growing world of smart devices. We pioneered the smartphone industry; now we are applying that thinking to realize the potential of a new generation of connected products and services. The overwhelming response that our virtual reality product, HTC Vive, received earlier this month underlines the importance of these new connected technologies for our future,” Wang said. “As an entrepreneur at heart, I am excited to see so many new opportunities, and I am honoured to accept this opportunity to help shape the next stage of HTC’s development.”

HTC mentions that its Board of Directors and executive team agreed that the formalising the progression and making the organisational changes was now necessary for the growth of the company.

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