Tencent President Liu Zhiping to Step Down From Board in May

What’s new: Tencent Holdings Ltd. executive director Liu Zhiping will resign from the board after the annual shareholder meeting May 17 and will continue as Tencent president and chairman of the company’s investment committee, the Chinese gaming and social media giant said.

Liu plans to focus on the group’s daily operations and management, Tencent said. The move aims to create a clearer division between board and management roles and improve corporate governance by increasing the proportion of nonexecutive and female directors in the board, the company said.