SHENZEN, China (CelebrityAccess) — Chinese music streamer Tencent Music Entertainment Group, announced that the company’s Chief Strategy Office Cheuk Tung Tony Yip, will step down from his senior role at the company, effective August 31st.
Tencent did not provide a reason for Mr. Cheuk Tun’s exit beyond noting that it was for “personal reasons.” He will assist with the transition to his yet-to-be-announced replacement at Tencent and the company said his departure was not the result of any dispute or disagreement Tencent.
Prior to joining TME, Mr. Cheuk Tun served as Chief Financial Officer at Baidu’s search division as well as investment banks such as Goldman Sachs.
“On behalf of the Company, we would like to express our deep gratitude to Tony for his invaluable contributions to TME’s achievements over the past five years. Since joining in 2018, Tony has led our two successful public listings on the New York Stock Exchange in 2018 and on the Hong Kong Stock Exchange in 2022. Tony’s professional expertise was instrumental to TME’s development by continuously refining our strategic focus, providing deep insights into the global online music and entertainment industry, supporting business development, capital markets and investment strategies, and establishing confidence in our Company among the investor community.” said Mr. Cussion Pang, Executive Chairman of TME.
“It has been my greatest pleasure to be a part of TME. I feel immense pride in the Company’s accomplishments over the years, especially its commitment towards driving the long-term healthy development of the online music industry and the incredible journey of growing its online music paying users from less than 20 million from the beginning of 2018 to over 90 million by the first quarter of 2023. I am truly grateful for Cussion, Ross and the Board for their trust, as well as for the support from everyone that I had been working with during my years in TME,” said Mr. Tony Yip. “While I now look forward to spending more time with my family overseas and on pursuing other personal interests, I am highly confident in the TME team and the Company’s future potential as China’s leading online music and audio entertainment platform.”