HTC has today announced yet another change in their executive line-up: chief executive officer Peter Chou is stepping down from his position, with chairperson Cher Wang taking his place. This will allow Chou to transition to a new role that leads future product innovation.

Wang, who co-founded HTC in 1997 alongside Chou, will act as both chairperson and CEO of the company. In a statement, she said that she is "honoured to accept this opportunity to help shape the next stage of HTC's development."

HTC has been preparing for Chou's transition away from the CEO role for two years, with Wang getting more involved in running the company during this time period. This allowed Chou to focus on developing the best products, which he will be able to continue to do in his new role as Head of HTC Future Development Lab.

The past few years have been tough for HTC as a smartphone manufacturer, but the company has recently been branching out into other ventures. Late last year, HTC launched the interesting Re action camera, while this year they've impressed with the Vive, a virtual reality headset developed in partnership with Valve.

"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," Wang stated on HTC's aims for the future.

The next major product to launch from HTC is the One M9, their new flagship Android smartphone, which will become available in some countries from next week.