HTC chairwoman Cher Wang has replaced Peter Chou as CEO of the company. Chou will remain at HTC but will lead the company's Future Development Lab.

Peter Chou, Cher Wang

Chou has overseen both good and bad times at HTC, having been at the Taiwanese manufacturer since its founding. Not only was the former CEO leading the company through the purchase and subsequent sale of Beats Electronics, but was also considered partially responsible for HTC lacking a solution to counter the threat from the likes of Xiaomi and Samsung.

While HTC has been making strides on its road to recovery, there have been several high-profile exits over the course of the year. Little is known about what Chou will be managing at the Future Development Lab, with HTC only stating that he will be "instrumental in identifying future growth opportunities for the Company."

In an official statement, Cher Wang said that she was looking forward to new opportunities in her role as CEO:

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.

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.

Source: HTC