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Tencent Music Entertainment Group announced a new chief executive and chairman

TME CEO Cussion Pang is transitioning to the role of Executive Chairman of the Board of Directors, while Zhu Liang (or Ross Liang) has been appointed as the company’s Chief Executive Officer and Board member.

Cussion had been serving as CEO since 2016. He will replace “Dowson” Tong Tao Sang, who is resigning as chairman after five years.

Zhu has been vice president of Tencent since 2016, and previously worked at Huawei Technology Co.

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Chinese web giant Tencent became the dominant force in digital music in China after it merged its own QQ Music and WeSing services with the China Music Corporation back in 2016. It then spun Tencent Music Entertainment off to become a standalone business that listed on the New York Stock Exchange in 2018.

“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,” the announcement reads. “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 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 Liang to provide value to users, business partners and shareholders.

“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 Liang said

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Liang, meanwhile, says: “It is a true honour 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 capitalise on the exciting opportunities within online music and audio entertainment”.

In June 2020, Tencent Music Entertainment (TME) also acquired its own sliver of Warner Music Group, paying around $100m for a stake worth around 0.8% of WMG. (Tencent Holdings acquired a further 0.8%.)

In October, MBW revealed that both Tencent Holdings and TME had acquired a minority stake in the fast-growing, AI-driven A&R platform Instrumental.Music Business Worldwide.

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