Tencent Announces Changes to Its Board of Directors and Secondary Listing on Hong Kong Stock Exchange

SHENZEN, China (CelebrityAccess) — Chinese music streaming and social media company Tencent Music Entertainment Group has announced a reshuffle of its board of directors that will see Mr. Liang Tang step down from the board and its compensation committee, with immediate effect.

The reason for Tang’s resignation was not disclosed, but Tencent executive chairman Cussion Pang thanked him for his service to the company.

“On behalf of our Board of Directors, we would like to sincerely thank Mr. Tang for his outstanding eight years of service as a member of TME’s Board of Directors. Since joining the Board of Directors in 2014, Mr. Tang has consistently made invaluable contributions to the strategic direction and development of TME. After his resignation, Mr. Tang will continue to provide strategic advice to us as an honorary advisor,” commented Mr. Cussion Pang, Executive Chairman of TME.

Mr. Liang Tang commented, “It has been my greatest pleasure to serve on TME’s Board of Directors, and I feel immense pride in the company’s accomplishments, especially its unwavering leadership in shaping the industry. Chinese music. I will continue to support TME and provide strategic advice as it grows and succeeds. »

Tencent also announced several additions and changes to the board, including Ms. Jeanette Kim Yum Chan, who is joining as an independent director, and that current board member, Ms. Edith Manling Ngan, has been appointed. to the compensation committee of the board of directors.

The changes to the company’s board follow news that Tencent is planning a secondary listing on the main board of the Hong Kong Stock Exchange. The listing will be in addition to Tencent’s current listing on the New York Stock Exchange.

Tencent has received a letter of approval in principle for secondary listing and the shares are expected to begin trading on the SEHK on September 21, 2022.

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