The executive, who helped lead the company to a successful IPO on the New York Stock Exchange, will depart from his role on August 31.
, the chief strategy officer for Chinese audio streaming company Tencent Music Entertainment , will step down on August 31, the company announced Monday . He plans to spend more time with his family overseas and pursue other personal interests, according to the press release. The company did not indicate who will replace Yip.Yip started at Tencent Music Entertainment in 2018 when the company’s four streaming brands — QQ Music, Kugou Music, Kuwo Music and WeSing — had 20 million subscribers.
“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 TME executive chairmanShares of TME declined 2.8% to $7.38 on the New York Stock Exchange on Monday and are down 10.9% year to date.
placed on Tencent Music Entertainment and many other Chinese tech companies, it’s still more than 77% below the all-time high of $32.25 set in March 2021.Daily newsletters straight to your inbox
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