Tencent Chief Blasts Managers in Fiery Townhall

The founder of Chinese tech giant Tencent told employees many "corruption" issues had been discovered within the company and mismanagement was draining its vitality, Reuters reported Friday, citing employees familiar with the matter. From the report: In a rare show of frustration, Pony Ma said at a year-end meeting with staff on Dec. 15 that internal reviews this year had exposed unspecified corruption within Asia's biggest social media and gaming company, the sources said. He also lambasted senior managers after one of the toughest years for Tencent since its founding in 1998, with revenue battered by a regulatory crackdown and headwinds from measures to stop the spread of COVID-19. "Your projects can't even survive as a business -- they are living on life support, but still you just cheerily play ball on the weekend," Ma said during the call, according to one employee who heard the comments and another who was briefed on them.

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