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Collin Furtado · · 1 min readTencent Music appoints new chairman and CEO
“Tencent Music Entertainment Group said on Thursday it appointed Zhu Liang as the new chief executive officer and Cussion Kar Shun Pang as the new executive chairman of the board, with immediate effect,” reported Reuters.
Details:
- Zhu was the vice president of Tencent Music’s parent company Tencent Holdings while Cussion had served as the CEO of Tencent Music since July 2016.
- The music-streaming platform’s current chairman Tong Tao Sang will resign from his position. He will also step down from the role of chairman of the compensation committee, as well as from his other roles in affiliates of the company.
Context:
- In February, Tencent Music acquired an additional 10% stake in Universal Music for US$36.4 billion, increasing its equity ownership in the company to 20%.
- Recently, ByteDance acquired another Chinese gaming studio C4games to challenge Tencent’s large gaming business empire.
Editing by September Grace Mahino
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