HTC Appoints Chairwoman And Co-Founder Cher Wang As CEO

Peter Chou has been replaced by HTC chairwoman and co-founder Cher Wang as chief executive, according to reports.

Chou reportedly will transition to a strategic new role leading future product innovation.

 "We are seeing rapid changes in the industry, with the smartphone as our personal hub connecting us to a growing world of smart devices," Wang said in a statement. "We pioneered the smartphone industry; now we are applying that thinking to realize the potential of a new generation of connected products and services."

Co-founded by Wang in 1997, HTC initially struggled to make its presence felt in the smartphone industry. Only recently it found its footing with the HTC One line up. Now the company has been also expanding to other product area.

"The overwhelming response that our virtual reality product ... received earlier this month underlines the importance of these new connected technologies for our future," Wang said.

Wang added that the executive shakeup a year ago would have been irrelevant.

"The last two years have been very challenging for HTC, and HTC is getting much better," Wang said, according to Bloomberg. "I don't really think a year ago would have been the right time" to replace the CEO.

However, according to experts mere change in executive position is not enough.

"Peter had done poorly, but even with Cher's return it will be difficult for HTC to turn things around," said Jeff Pu, who rates the stock sell at Yuanta Financial Holding Co. "Her appointment may also imply that it's difficult to find a fresh leader from outside."