Cher Wang is new CEO of HTC

In a management reshuffle, HTC Chairwoman and co-founder Cher Wang has been stepped up as the company's new chief executive. The announcement came on Friday.

The Taiwanese electronics maker, in a press release, said that Cher Wang, Chairman and co-founder of HTC, is replacing Peter Chou. Now, Chou will be getting a "strategic" position in product development as the leader of HTC's Future Development Lab.

According to the company, in the last two years, Chou's main attention was on product development, while he handled over more of his chief executive responsibilities to Wang.

The company said that both the board of directors and executive team has decided that the time has come to formalize and finalize the changes in corporate position.

Wang commented, "We are seeing rapid changes in the industry, with the smartphone as our personal hub connecting us to a growing world of smart devices".

She said that they have pioneered the smartphone industry and are now looking forward to apply that thinking to realize the potential of a new generation of connected products and services.

Further, the new HTC CEO said that she is "an entrepreneur at heart", which will potentially assist her in shaping HTC's future evolution as a business.

Wang, in an interview, told Bloomberg that she was the best candidate, as both the company and people working within are well known to her, and thus suggested the move herself.

The management has remained an issue in HTC's realm, as around seven senior executives left the field under the former CEO. So, now all have eyes on Wang, as they want to see that whether she can right the ship and push the company forward.