China’s Tencent To Restructure Into Six Groups, Here’s Why

China’s Internet juggernaut Tencent announced today that it would undergo a restructuring of its business units into six groups. Ren Yuxin was also named as the new chief operating officer and will head  up the media and social-networking groups.

The six groups include:

TEG – Technology & Engineering Group, comprised of Tencent Research and operating divisions.

SNG – Social Networking Group, comprised of its Internet business lines and some divisions from Tencent Research.

CBG – Creative Business Group, formed by Tencent Guangdong R&D Center and its corporate development arm. Read more...