HTC Operations Chief Steps Down Amid Smartphone Delays

HTC Corp. Chief Operating Officer Matthew Costello stepped down after less than three years at Taiwan’s biggest smartphone maker amid slumping sales that have pushed down its shares about 76 percent in the past two years.

Fred Liu, who is president of engineering and operations, took on Costello’s responsibilities in an expanded role covering operations, quality, sales operations and services, Liu said in an e-mail to employees obtained by Bloomberg News. Costello will stay on as an executive adviser after moving to Europe, according to the e-mail. Taoyuan, Taiwan-based HTC confirmed both moves in an e-mailed response to Bloomberg.