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HTC Said to Appoint Wang Acting CFO as Chang Focuses on Sales

HTC Corp. Store In Taipei
A pedestrian looks at an advertisement for the HTC Corp. One M8 smartphone displayed at one of the company's stores in Taipei. HTC has lost at least six senior executives in the past three years. Photographer: Maurice Tsai/Bloomberg

April 28 (Bloomberg) -- HTC Corp., the Taiwanese smartphone maker, appointed Edward Wang as acting chief financial officer, according to people familiar with the matter.

Wang was promoted as incumbent CFO Chang Chialin increases his focus on the role of global sales head, the people said, asking not to be named because the appointment isn’t public. Wang’s title before the move was associate vice president of finance and accounting, according to HTC’s annual report.

HTC, which has posted declining sales for 10 straight quarters, has lost at least six senior executives in the past three years, including Lorain Wong who quit as head of public relations in October after four months at the company. Recent executive moves at HTC are said to include the resignation of design chief Scott Croyle and the hiring of former Samsung Electronics Co. U.S. mobile marketing head Paul Golden as a consultant to chairman Cher Wang.

HTC declined to comment on Wang’s appointment and referred to its statement made in December when Chang was appointed to the sales role. Chang will remain CFO “until the time a transition of responsibilities makes sense,” HTC said in the Dec. 17 statement.

Chang, a former Goldman Sachs Group Inc. managing director, joined HTC as CFO in April 2012 and added global sales to his responsibilities in December.

Edward Wang has a Masters of Business Administration from Tunghai University and was formerly a vice president at Hotung Group, according to HTC’s 2012 annual report published last year. Wang has been at Taoyuan, Taiwan-based HTC since December 2006 and previously worked at China Development Industrial Bank Inc., according to his profile on LinkedIn.

To contact the reporter on this story: Tim Culpan in Taipei at tculpan1@bloomberg.net

To contact the editors responsible for this story: Michael Tighe at mtighe4@bloomberg.net Robert Fenner, Aaron Clark

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