TikTok CEO to step down as CFO at parent company ByteDance
The CFO of TikTok’s parent company ByteDance will step down to focus full-time on running the hugely 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 CEO in April.
The change is part of a larger 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, Lark Work Collaboration Unit, BytePlus Business Service Unit, Nuverse Game Unit and Dali Educational Technology Unit.
ByteDance declined to comment on the note.
Chew was appointed CEO of TikTok in April, eight months after the resignation of Kevin Mayer, its former chief executive. Mayer, who helped, resigned after a . In his resignation letter after three months as head of TikTok, Mayer cited as his reason for leaving then-US President Donald Trump’s threat to ban TikTok unless it is sold to a company based in the United States.