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Tencent Music gets new CEO as Cussion Pang takes on a new role

This week, Tencent Music Entertainment Group (TME) announced a major leadership reorganization.

Cussion Pang, CEO of TME, will take on the role of Executive Chairman of the Board of Directors, while Zhu Liang (or Ross Liang) has been named Chief Executive Officer and Board Member of the company.

As the company’s new Executive Chairman, TME says Cussion Pang will be responsible for “establishing the company’s long-term strategy, overall coordination and management of the Board of Directors and the company.”

He will continue to work closely with Ross Liang.

As CEO of Tencent Music, majority-owned by Tencent Holdings in China, Liang will be responsible for overseeing TME’s QQ Music, Kugou Music, Kuwo Music, WeSing and Long Form Audio businesses.

Liang was previously the vice president of Tencent Holdings Limited. He joined the company in 2003.

While there, he was responsible for overseeing a number of online platforms, including the Chinese social communication and entertainment platform QQ, which Tencent says has 595 million MAUs, and a separate social platform called Qzone.

Prior to this position, Liang was General Manager of QQ Music from 2014 to 2016.

Before joining Tencent, Liang worked for Huawei Technology Co., Ltd.

Elsewhere, James Gordon Mitchell has been named chairman of the Board of Directors Compensation Committee, while Tong Tao Sang (Dowson Tong), the current Chairman of TME’s Board of Directors, will step down from the positions of Chairman of the Board of Directors, Chairman of the Compensation Committee, and all of his roles as a director or officer of affiliated companies of the company.

Dowson Tong has been Chairman of the Board since 2016. According to TME, he played an important role in establishing TME Music through the strategic merger of Tencent’s QQ Music and WeSing with China Music Corporation, the former holding company of Kugou Music and Kuwo

These changes will take effect on April 15, 2021.

“I remain committed and committed to the long-term success of the company and look forward to working with Ross along with the Board of Directors and our entire senior management team to build on our strong momentum and drive the next phase of growth for TME. “

Cussion pang

Cussion Pang said, “I am delighted to have Ross join our team as CEO.

“Ross’ proven track record in building successful online entertainment platforms and social ecosystems, combined with his extensive experience delivering strong results from successful expansion into new businesses, makes him ideally suited to our evolution into an all-in-one online – Accelerate music and audio entertainment destination in China.

He added, “TME is very well positioned for the worldly growth opportunities in online music and audio that lie ahead.

“I remain committed and committed to the long-term success of the company and look forward to working with Ross along with the Board of Directors and our entire senior management team to build on our strong momentum and drive the next phase of growth for TME. “

“It is a real honor to lead this extraordinary and innovative company as CEO.”

Ross Liang

Ross Liang added, “It is a real honor to lead this extraordinary and innovative company as CEO.

“I believe that TME’s commitment to sustainable industry development, outstanding product and technology offerings, and innovative business models, combined with the most talented group of people in the industry, uniquely enables the company to tap into the exciting possibilities of online music and -Audio to use entertainment.

“I look forward to working closely with Cussion, the board of directors and the senior management team to build on our strong foundations to better serve our users, artists and content creators, provide our employees with the best career experiences and long-term success To gain experience. Term value for our shareholders. “

Last month, Warner Music Group and Tencent Music Entertainment announced the launch of a new joint venture record label in China.

In November, Tencent Music acquired a minority stake in the Los Angeles-based virtual concert platform Wave.

In early 2020, the company acquired a minority stake in Universal Music Group through the acquisition of a 10% stake in UMG by a Tencent-led consortium for $ 3.4 billion.

In June 2020 Tencent Music Entertainment (TME) also acquired its own splitter from the Warner Music Group and paid around USD 100 million for a stake of around 0.8% in WMG. (Tencent Holdings acquired another 0.8%.)

In October, MBW announced that both Tencent Holdings and TME had acquired a minority stake in the rapidly growing, AI-driven A&R platform Instrumental.Music business worldwide

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