HTC Finance Chief Chang Said to Jointly Head Smartphone Unit

Jul 16, 2014 4:56 am ET

(Updates with closing share price in sixth paragraph.)

July 16 (Bloomberg) -- HTC Corp. appointed finance chief Chang Chialin as co-head of its smartphone business in changes that include the resignation of the company’s marketing chief.

Chang and Chief Engineering Officer David Chen will take on the additional roles to jointly run the business, President Peter Chou said in a memo to employees that was obtained by Bloomberg News yesterday. The memo was confirmed by a public relations official who asked not to be identified because she’s not authorized to speak on the matter.

Chairwoman Cher Wang, who returned to a more active role at the Taoyuan, Taiwan-based smartphone maker last summer, is rearranging key positions as she seeks to develop new devices and return to sales growth. Ben Ho, who last year became the third marketing chief in three years, submitted his resignation, Bloomberg News reported earlier.

Chang, a former Goldman Sachs Group Inc. executive, will be president of global sales, head of smartphones and chief financial officer. Edward Wang was appointed acting-CFO to assist Chang as he takes on new roles, Bloomberg News reported in April.

HTC this month reported second-quarter sales fell to NT$65.1 billion ($2.2 billion), the 11th consecutive decline and missing analyst estimates at the time for NT$66.9 billion. The company returned to net income after three quarters of operating losses.

Shares of HTC fell 0.4 percent to close at NT$137 in Taipei trading, extending a 2.8 percent drop this year. The benchmark Taiex lost 0.9 percent today.

A new emerging devices team managed by Mike Woodward and an engineering team led by WH Liu, will report directly to Chou, according to the memo.

Fred Liu, who joined HTC in 1998 and most recently held the post of president of engineering and operations, will move away from a day-to-day role and take an advisory position as managing director overseeing emerging products, service, manufacturing and information technology, according to the internal memo and earlier statement from HTC.