HTC issued a statement revealing that it parted company with Peter Chou, its former CEO, some time ago, having already shifted him into a more product oriented-role

Peter ChouAccording to the company, Chou (pictured, left) “retired from the company” in September 2015, after taking on the chairmanship of Hong Kong media company Digital Domain. He was replaced as CEO in March 2015, with chairwoman Cher Wang taking on additional responsibilities.

While Chou was at the helm of HTC as it transitioned from being a white-label manufacturer of smartphones offered by operators and distributors, becoming a pioneer in the smartphone space on the way, he was also leader as its fortunes turned toward a prolonged decline.

But things have not got better since Chou’s shift and then retirement, with the company still struggling to gain traction despite often well-reviewed products.

HTC has also been investing heavily in VR in order to become an early mover in a potentially significant market, although it is the core smartphone business where investor eyes are focused.