Chinese media company Tencent Holdings said this past Friday that they are restructuring their business operations into 6 groups. The company also named Ren Yuxin as the new COO and head of the company’s media and social networking groups as they prepare to move beyond their gaming business. The restructuring will benefit smaller operations of the business like mobile, search, and e-commerce.
Tencent CEO Ma Huateng that the restructuring will help move the company “incubate new businesses.” Huateng added the restructuring “will pool certain of our technology and engineering teams to further develop core technologies and operational platforms so as to better support future business growth.”
Tencent’s six groups are going to be comprised of corporate development, interactive entertainment, mobile Internet, online media, social networking, and technology and engineering. Tencent is also setting up a wholly owned subsidiary called Tencent E-Commerce Holding Company. Yuxin was previousy the president of the company’s interactive entertainment business.