SHENZHEN, China (CelebrityAccess) — Just days after releasing stellar year-end financial results for 2020, Chinese music streaming giant Tencent Music announced a shakeup in its senior leadership.
The executive moves include Cussion Kar Shun Pang, who until recently served as CEO, transitioning to Tencent Music’s board of directors where he has been named chairman.
Stepping into the CEO role will be Zhu “Ross” Liang. Prior to his new role, Liang served as Vice President of Tencent Holdings Limited, where he oversaw a number of Tencent’s services, including social entertainment platforms QQ, and Qzone. Ross also served as the General Manager of QQ Music from 2014 to 2016.
“I am delighted to have Ross join our team as the CEO. Ross’ proven track record in building successful online entertainment platforms and social ecosystems, combined with his breadth of experience delivering strong results through successful expansion into new business areas, makes him ideally suited to accelerate our evolution into an all-in-one online music and audio entertainment destination in China,” said Cussion. “TME is very well positioned for the secular growth opportunities within online music and audio that lie ahead of us. I remain as engaged and committed to the Company’s long-term success as ever, and I am excited to work with Ross, along with the Board and our entire senior management team, to build on our strong momentum to drive the next phase of growth for TME.”
“It is a true honor to lead this extraordinary and innovative company as CEO. I believe TME’s dedication towards driving a sustainable industry development, outstanding product and technology offerings, and innovative business models, combined with the most talented group of people in the industry, uniquely position the Company to capitalize on the exciting opportunities within online music and audio entertainment. I look forward to working in close partnership with Cussion, the Board and the senior management team, to build on our strong foundation to better serve our users, artists and content creators, provide the best career experiences for our people, and create long-term value for our shareholders,” Liang added.
Tencent Music also announced the appointment of Mr. James Gordon Mitchell to the board of director’s compensation committee.
As well, Tencent revealed that Tong Tao Sang, “Dowson Tong” the company’s current chairman, will resign from his position on the board, including his role on the compensation committee, as well as his role as a director or an officer of affiliates of the company.
Tencent did not share a reason for Tong Tao Sang’s abrupt resignation but thanked him for his “distinguished leadership” and tenure with the company.