SHENZHEN, China, April 14, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:
TME), the leading online music entertainment platform in
China, today announced the
appointment of Mr. Cussion Kar Shun Pang as TME's Executive
Chairman of the Board of Directors (the "Board"). Mr. Zhu Liang (or "Ross
Liang") has been appointed as the Company's new Chief
Executive Officer ("CEO") and a member of the Board. Prior to
this appointment, Ross served as Vice President of Tencent Holdings Limited ("Tencent") where he was responsible for overseeing
a number of major online platforms including QQ, a leading social
communication and entertainment platform in China with 595 million MAU on smart devices,
as well as Qzone, a leading social platform that enables users to
share their lives and interact with friends and relatives anytime
and anywhere. Prior to that role, Ross was the General Manager
of QQ Music from 2014 to 2016. As the CEO, Ross' primary
responsibility is to oversee TME's QQ Music, Kugou Music, Kuwo
Music, WeSing and long-form audio business. Mr. James Gordon Mitchell has been appointed as the
Chairman of compensation committee of the Board. These changes will
go into effect as of April 15, 2021.
Mr. Tong Tao Sang (or "Dowson Tong"), TME's current Chairman of the
Board, will resign from the positions of Chairman of the Board,
Chairman of compensation committee and all his roles as a director
or an officer of affiliates of the Company.
Dowson has served as Chairman of the Board since 2016. He
played an integral role in the formation of TME through the
strategic merger of Tencent's QQ Music and WeSing with China Music
Corporation, the former holding company of Kugou Music and Kuwo
Music. Under Dowson's leadership, TME embarked on the
strategic and cultural transformation that shaped the Company's
journey towards providing superior online music streaming
experiences to users, as well as improving the copyright protection
environment for the music industry in China. The Board wishes
to extend its deepest gratitude to Dowson for his distinguished
leadership in driving the transformational growth of TME over the
past five years. Dowson's personal dedication to shaping the
Company's overall strategy within the broader context of promoting
the healthy and sustainable development of the music industry has
enabled TME to thrive as the leading online music entertainment
platform in China.
As the Company's newly appointed Executive Chairman, Cussion
will be responsible for setting the Company's long-term strategy,
overall coordination and management of the Board and the Company.
He will continue to work closely in collaboration with Ross to
provide value to users, business partners
and shareholders. "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."
Ross Liang, newly appointed CEO
and Board member of TME, said, "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."
Ross joined Tencent in 2003. Prior
to joining TME, he served as Vice President of Tencent, a role he has held since 2016. Prior to
that, Ross was the General Manager of QQ Music from 2014 to
2016. Ross has extensive product and operation experience
across multiple businesses within Tencent including QQ, Qzone, Pitu, QQ Music,
WeSing, YouTu Lab, Online Education, Tencent Docs and other businesses. Prior to
joining Tencent, Ross worked for
Huawei Technology Co., Ltd. Ross received a doctor's degree in
signal and information processing from Tianjin University in 2003.
About Tencent Music
Entertainment
Tencent Music Entertainment Group
(NYSE: TME) is the leading online music entertainment platform in
China, operating the country's
highly popular and innovative music apps: QQ Music, Kugou Music,
Kuwo Music and WeSing. Tencent
Music's mission is to use technology to elevate the role of music
in people's lives by enabling them to create, enjoy, share and
interact with music. Tencent Music's
platform comprises online music, online karaoke and music-centric
live streaming services, enabling music fans to discover, listen,
sing, watch, perform and socialize around music. For more
information, please visit ir.tencentmusic.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the SEC. All information provided in this press
release is as of the date of this press release, and the Company
does not undertake any duty to update such information, except as
required under applicable law.
Investor Relations Contact
Tencent Music Entertainment
Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext. 883606
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SOURCE Tencent Music Entertainment
Group