Following unsatisfactory performance last year, Tencent has reshuffled its cloud services and industrial internet arm, reported Caixin.
The Cloud & Smart Industries Group (CSIG) said on Friday that the group’s president, Tang Daosheng, had left his role to become its CEO. President of CSIG subsidiary Tencent Cloud, Qiu Yuepeng, has taken on the extra role of COO for the group. Qiu will be reporting directly to Tang on operational, sales and quality issues.
The reshuffle comes after missed growth expectations in 2020 led Tencent Cloud to drop from second place in the country’s cloud services rankings. They were overtaken by Huawei Cloud, which entered the market 4 years after Tencent, who now sit behind industry leaders Alibaba Cloud, according to market research firm IDC.