HTC sees CEO shuffle with Peter Chou giving way to fellow co-founder Cher Wang

Peter Chou is out as the CEO of HTC, he will instead "transition to a strategic new role leading future product innovation" as Head of HTC's Future Development Lab. Cher Wang will takeover as the CEO of the company retaining her current position as the chairperson of the board.

Wang takes the helm of HTC at a time when the company is trying to become relevant again, diversifying its portfolio with innovations like the RE Camera and Vive VR headset in partnership with Valve. HTC's last two flagships didn't sell well even though both got critical acclaim and the One M9 is just an evolutionary step ahead of its own sibling.

Although Wang is very optimistic about the company's future and believes that the company has grown over the years understanding the dynamics at play here and the technology that they have helped pioneer.

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.