Published in News
HTC changes CFO
Only behind the desk for a year
HTC has replaced its outspoken CFO Winston Yung who had been in the job for just a year. Chia-Lin Chang has been appointed as the company's CFO having come from Goldman Sachs in Taiwan. Yung, meanwhile, will assume a new role in corporate development, which is probably another way of saying “special projects manager” with an office in the lift.
HTC didn't offer an immediate reason for the move, though it comes just a few months after the manufacturer released a rather dismal Q4 earnings report. Yung has been with HTC since 2011, but had been rather vocal during his brief tenure as CFO and oversaw the company's purchase of Beats Audio, which lots of investors could not see the logic of buying. Yung was also behind HTC's recent Studio launch, which was part of his larger initiative to turn HTC around by focusing on a set of "worldwide flagship products."
The strokers of beards and people in the know think that HTC might be taking a more aggressive attitude toward its finance department. Tom Tang, a vice president at Masterlink Investment Advisory tod the Verge that when a company changes its CFO, it often indicates that the company's operations or financials have reached a bottleneck.