Tencent executive cedes key role amid China gaming turmoil

In more than two decades at Tencent, Wallerstein was responsible for finding 'moonshot' investments for the Shenzhen-based social network and gaming company — Photo by Jade GAO/AFP

Tencent Holdings Ltd. chief exploration officer David Wallerstein is leaving his management role, the company said, as the company struggles with China’s ongoing efforts to curb technology, entertainment and gaming companies.

Wallerstein will transition into a role as a senior adviser beginning Jan 1, a company spokesperson confirmed. In an internal memo on late Friday afternoon seen by Bloomberg News, Wallerstein said he planned to continue contributing on topics such as climate and human health. He did not immediately respond to a request for comment via LinkedIn.