Peter Chou is no longer CEO of HTC, the company has announced.
The Taiwanese smartphone maker has revealed that Cher Wang, chairwoman and co-founder of HTC, has been appointed its new CEO.
Wang co-founded HTC with Chou and H.T.Cho back in 1997, and has been taking on more of the responsibility for the day to day of the company over the past two years.
So what of Peter Chou, the man who has seen HTC through its early smartphone innovation, recent struggles against Samsung, and the launch of this year's somewhat underwhelming HTC One M9?
Chou will remain with the company he co-founded, and will head up the HTC Future Development Lab. In this role HTC says that "Mr. Chou will be instrumental in identifying future growth opportunities for the company."
While its most recent smartphone is a little on the conservative side, HTC has made a couple of bold moves into other areas over the past year.
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Presumably, Chou will be responsible for continuing to find new projects of this type as the smartphone market grows ever more saturated and competitive.
The HTC One M9 goes on sale from March 31, with an iterative design and an improved 20-megapixel camera.