Business & Investment

China’s Tencent Music Announces New CEO and Chairman

Tencent Music Entertainment Group announced a new CEO and Chairman late Wednesday.

In a statement, a Chinese music streaming company said Zhu “Ross” Liang was appointed CEO and Fusion Kar Shun Pang was appointed chairman of the board.

Cussion has been CEO since 2016. He will replace “Dowson” Tong Tao Sang, who will resign as chairman five years later.

Zhu has been Tencent’s Vice President since 2016 and previously worked for Huawei Technology Co.

“We are pleased that Ross has joined our team as CEO. We have achieved strong results through Ross’s solid track record in building successful online entertainment platforms and social ecosystems and successful expansion into new business areas. With the wide range of experience he has brought, Ross is ideal for accelerating the evolution to all-in-one online music. China’s audio entertainment destination, “Cussion said in a statement.

Last month, Shenzhen-based Tencent Music announced Plan to buy back $ 1 billion in shares, Immediately after Fourth-quarter earnings were slightly below expectations..Said the US Securities and Exchange Commission Started taking measures to enforce More stringent financial oversight of foreign companies.

Tencent Music American Depositary Receipt

It has decreased by about 6% since the beginning of the year, but has increased by 68% over the past year.

China’s Tencent Music Announces New CEO and Chairman China’s Tencent Music Announces New CEO and Chairman

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