Engadget Mobile

HTC moves aside CFO who oversaw $300 million Beats Audio deal

HTC's CFO Winston Yung has been shunted into a 'corporate development' role after barely a year on the job. He orchestrated some pretty controversial deals during his tenure, including the $300 million purchase of the Beats Audio brand from Dr. Dre -- an acquisition that has so far shown little value except as a marketing device. Yung also occupied the hot seat while HTC's balance sheet suddenly flipped from brilliant to bad and then worse, and was outspoken in his views of what went wrong. HTC has provided no reason for the job shift, leaving analysts to guess at how the company's strategy will change to capitalize on its new One smartphones and battle against Sammy's imminent contender. The new CFO is Chia-Lin Chang, a former Goldman Sachs partner and Motorola engineer who hopefully knows how to handle pressure.

HTC moves aside CFO who oversaw $300 million Beats Audio deal originally appeared on Engadget on Tue, 17 Apr 2012 03:02:00 EDT. Please see our terms for use of feeds.

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Source: Engadget Mobile
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