SHENZEN, China (CelebrityAccess) — Tencent Music Entertainment Group announced that after a 7-year stint, Martin Chi Ping Lau plans to step down from the company’s board of directors, effective immediately.
In his place, Tencent announced that Matthew Yun Ming Cheng has been elected to serve on the board, effective immediately.
“On behalf of our Board, we would like to express our deep gratitude to Martin for his years of services to the TME Board and his invaluable contributions to the Company. His extensive experience and strategic thinking shaped TME’s growth path and were instrumental in our transformation into the leading online music and audio entertainment platform in China. After his resignation, Martin will continue to provide us with strategic advice as President of Tencent, which remains the majority shareholder in TME,” commented Mr. Cussion Pang, Executive Chairman of TME. “Meanwhile, we are pleased to welcome Matthew as a new director to our Board. We are confident his experience and insights will provide valuable perspectives as we continue to execute our strategy and promote the healthy development of China’s music industry.”
Martin Chi Ping Lau joined Tencent Music Entertainment’s board in 2016. Before joining the board at Tencent, he served as an executive director at Goldman Sachs (Asia) L.L.C.’s investment banking division and the Chief Operating Officer of its Telecom, Media and Technology Group.
He also served as a management consultant at McKinsey & Company, Inc. and served as a non-executive director of Kingsoft Corporation Limited, an Internet-based software developer, distributor and software service provider.
Mr. Cheng joined Tencent Group in 2010 and served on the company’s board. Before joining Tencent, Cheng toiled at the accounting firm Price Waterhouse (now PriceWaterhouseCoopers) from 1997 to 2000 and other companies in management roles.