PETALING JAYA: China-based Tencent, the creator of popular apps such as WeChat and QQ, has appointed senior executive vice president SY Lau as chairman for Tencent Advertising and chairman of group marketing and global branding.
Tencent’s chief operation officer Mark Ren Yuxin will be president of the online media group.
The group said in a press release the appointments were an important decision aimed at better exploiting business potential and embracing future Internet opportunities.
“The move will enhance synergies and coordination of Tencent’s advertising resources. It will greatly contribute to the company’s strategy of globalisation,” the group said, adding that Lau’s appointment will further raise the strategic significance of advertising business within the company. Tencent said Lau, a Malaysian, has a lot of experience in online advertising and marketing. He achieved remarkable results in advertising since joining Tencent in 2006.
“Tencent online advertising revenue grew from 267 million yuan to 26.97 billion yuan between 2006 and 2016. Lau is expected to push forward the company’s advertising business to a new level.
As for Ren’s appointment as president of the online media group, he is expected to further integrate content distribution platforms and upgrade the group technologically.
“Ren will also lead the company’s online media business to win strategic high ground in its full capacity, through accelerated strategic coordination of the online media group and the interactive entertainment group,” it said.