TikTok CEO to relinquish CFO role at parent ByteDance


tik-tok-0827

Angela Lang/CNET

The chief financial officer of TikTok parent company ByteDance will step down to focus his attention full time on running the wildly popular video-sharing app, according to an internal memo sent to employees on Monday.

ByteDance CFO Shou Zi Chew joined ByteDance in March and was appointed TikTok’s chief executive in April.

The shift is part of a broader reorganization that will create six business units within TikTok’s parent company, ByteDance Chief Executive Liang Rubo said in the memo, reported earlier by Reuters. The new structure will include TikTok, Douyin, work collaboration unit Lark, business services unit BytePlus, gaming unit Nuverse and education tech unit Dali.

ByteDance declined to comment on the memo.

Chew was installed as TikTok’s CEO in April, eight months after the resignation of Kevin Mayer, its previous chief executive. Mayer, who helped launch the popular Disney Plus streaming service, resigned after a turbulent year for the popular video sharing service. In his resignation letter after three months at TikTok’s helm, Mayer cited as a reason for his departure then-US President Donald Trump’s threat to ban TikTok unless it was sold to a US-based company.



Source link

See also  2023 Chevy Corvette Z06: What revs to the heavens should go like hell

Latest

Decorate Banquet Square and Round Reception Tables

Besides the reception venue itself, your tables will play a large role in dictating the atmosphere of your celebration. Lucky for you, party rental companies offer a...

Strike enters fifth day at 2 BHP copper mines in Chile

Article content SANTIAGO — A strike by workers for BHP’s Escondida and Spence copper mines in Chile entered its fifth day on Monday,...

FPIs net sellers of Indian equities worth Rs 6,427 cr in May so far

NEW DELHI: Foreign portfolio investors (FPIs) pulled out Rs 6,452 crore so far in May from Indian markets amid tumbling investor sentiment due...

Online Casinos Play a Crucial Role in Our Daily Lives

For those of us who enjoy gambling at Slothunter casino, the internet has been a life-saver. We can now gamble from the comfort of...