HTC Executive Leaves Sinking Ship

HTC COO Matthew Costello has resigned the day before yesterday. Fred Liu, who serves as a HTC engineering and chief operating officer will take over his duties.

In this regard, HTC publicist responded that Costello returned to Europe will likely continue to serve as an executive consultant.

On December 2010, HTC appointed former Sony Ericsson vice president of Global Operations Matthew Costello as the company’s new COO to be mainly responsible for HTC manufacturing, supply chain management, customer service and technical architecture etc.

Since Matthew took office in December, the company’s revenue continues to drop, which led to 76% fall of the company’s share price in the past two years. Earlier this year, HTC CEO Peter Chou said in an interview that the company’s net profit has declined dramatically after the marketing business suffered a defeat.

HTC once was the best-selling mobile phone manufacturer in the U.S. market, but now is left far behind by Samsung and Apple. Some people believe that the decline in performance is the main reason causing Matthew Costello stepping down.