The company said that current chief Cher Wang will step down while remaining chairperson of the company. Wang took over the position from Peter Chou in 2015.

HTC will continue to focus on VR and XR (extended reality), 5G and AI with Maitre at the helm.

Maitre said that HTC "will set out immediately to continue the transition from building the worlds' best consumer hardware to build complete services around them to make them easy to manage and deploy."

That likely means that HTC will continue to develop business services around the Vive VR headset, much like Microsoft did with Hololens.

The company announced an agreement with a company called Synnex "to provide enterprise resellers with HTC VIVE solutions designed for markets including architecture, construction and engineering; product design; healthcare and medicine; and education," it said in its latest financial statements.

HTC unveiled a 5G Hub, developed with Sprint, that will let consumers get 5G speeds without a 5G phone.

Maitre has grabbed a poisoned chalice, in 2018, the company booked a mere $770 million in revenue, the first time it saw less than $1 billion as a public company. HTC sold off a chunk of its smartphone business to Google last year, but its Vive business has struggled too, as virtual reality hasn't yet gained strong traction with consumers.