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Losing money and staff at a rapid rate there's no easy answer for HTC

HTC Corp.'s (TPE:2498) bid to stay relevant in the smartphone industry took another hit this week when Lorain Wong -- a top executive -- announced she was leaving her post as HTC's global public relations vice president after only four months.

Back in July she had take the reins from Jason Gordon who left the firm.  She seemed a promising fit having enjoyed successful campaigns at many mobile firms, including her most recent stint at submarine cable provider Asia Global Crossing, where as VP of marketing she orchestrated a successful rebranding campaign as AGC became "Pacnet".

Word of the VP's resignation came this week via Bloomberg.  It ascribed "personal reasons" as the cause of the resignation, although it’s hard to believe that HTC's recent loss -- the first in company history -- had nothing to do with it.  

Lorain Wong HTC
Former HTC Global PR VP, Lorain Wong

Ms. Wong has agreed to stay on 3 to 4 months as a consultant, so clearly the decision to leave was hers, and not something her employer wanted.

For HTC -- company who admitted that much of its struggles have been due to poor communication and marketing -- this is terrible news.  But ultimately given HTC's market direction, it's become all too predictable that top talent will leave it.  HTC has cut back on executive pay, and five other major executives had let it in 2012 and 2013, in addition ot VP Wong.

At the same time HTC has scaled back its research and development spending, leading many of its engineers to be laid off or face pay cuts.  As a result companies like China and South Korea's Samsung Electronics Comp., Ltd. (KSC:005930) have been feasting on this wealth of abandoned talent.

Source: Bloomberg



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Meh
By aurareturn on 10/18/2013 3:45:44 PM , Rating: 0
Marketing executives can be easily replaced. They really don't do that much work. They usually just spend money on expensive agencies to do the work/messaging for them. They are there to do reporting and to have a neck for the CEO to choke when things go wrong.




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