Peter Chou, co-founder and CEO of HTC, has stepped down from his position as the CEO. He will be replaced by Cher Wang, co-founder and chairperson of the company.
Chou will remain at HTC and will start a new role as the head of the HTC Future Development Lab, a new division of the company responsible for coming up with new products.
While Chou has headed the company through some tough times, he's more of a product person, and as such, it is no surprise seeing him head a product division. Cher, meanwhile, has already been actively involved in managing the company and is better suited for the role of the CEO.