Tencent Music Entertainment Group Announces Key Board Changes to Enhance Leadership

Tencent Music Entertainment Group's Leadership Transition

On February 28, 2025, Tencent Music Entertainment Group (TME), established as a leader in China's online music and audio entertainment, declared notable changes within its Board of Directors. These adjustments aim to fortify the company's governance and enhance its strategic direction as it continues to innovate in the music industry.

Mr. Matthew Yun Ming Cheng is set to retire from his position on the Board, a role he has held since 2022. His departure marks the culmination of a tenure that contributed significantly to TME's growth trajectory and his efforts to bolster the music landscape in China. Mr. Cussion Pang, Executive Chairman of TME, expressed gratitude towards Cheng, acknowledging his dedication that profoundly influenced the company's advancement during his term.

In a simultaneous move to shape the future of the organization, the Board welcomed Mr. Wai Yip Tsang as a new director. Tsang's extensive background in finance and his comprehensive experience across various financial sectors are expected to enhance TME's board composition and diversify its strategic insights. Cussion Pang warmly noted that Tsang’s expertise would serve as a valuable asset to TME, further reinforcing its operational impact within the highly competitive music industry.

Currently, Tsang serves as the Financial Controller at Tencent Holdings Limited, a role he has excelled in since joining the company in 2014. His prior experience spans several key financial positions within publicly traded entities across major stock exchanges, including prominent roles as chief financial officer and group financial controller. He has also held a directorial position in a firm listed on the New Zealand Stock Exchange.

Tsang's credentials extend further as he is a fellow member of various esteemed accounting bodies including the Institute of Chartered Accountants in England and Wales, the Hong Kong Institute of Certified Public Accountants, and CPA Australia. His academic achievements include a Bachelor of Arts (Honors) in Accountancy.

With a footprint in online music, audio, karaoke, live streaming and concert services, Tencent Music Entertainment Group operates some of the most popular music apps in China, including QQ Music, Kugou Music, Kuwo Music, and WeSing. TME is focused on leveraging technology and music to generate endless possibilities for music enthusiasts.

As TME transitions to this new phase, both the departure of Cheng and the introduction of Tsang underline a commitment to leadership evolution aimed at sustaining growth and stimulating innovation within the music sector. The changes within the board are anticipated to positively influence TME's future initiatives and its standing as a pivotal player in China's vibrant music industry.

For further updates and information about TME and its latest ventures, visit Tencent Music's Investor Relations.