HTC Executive Exodus Continues As COO Matthew Costello Steps Down

HTC Chief Operating Officer Matthew Costello has become the latest executive to leave his post at the struggling Taiwanese manufacturer after three years.

Costello has stepped down after three years as COO after overseeing a decline in sales and a 76 percent reduction in share price, but will continue to be an executive adviser to the company based in Europe.

A number of other executives, including HTC Asia CEO Lennard Hoornik, Chief Product Officer Kouji Kodera, vice president of global communications Jason Gordon and product strategy manager Eric Lin, have all departed in recent months.

HTC One delays

Costello will be replaced by Fred Liu, president of engineering and operations, who confirmed he had assumed Costello’s responsibilities as part of an expanded role covering operations, quality, sales and services in an email to employees.

As part of this most recent management shake-up, HTC has set up a new product quality assurance division and product management team to ensure its products are of sufficient quality.

HTC’s share of the global smartphone market has been hit hard by intense competition from Samsung and Apple, and it has struggled to regain lost ground.

Costello is believed to have paid the price for component shortages which led to the delay of the HTC One, which is seen as vital to the company’s hopes of a turnaround. This contributed to record low profits earlier this year, but the company is still optimistic that it can turn things round.

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