TikTok CEO to relinquish CFO role at parent ByteDance

The chief monetary officer of TikTok guardian firm ByteDance will step all the way down to focus his consideration full time on operating the wildly widespread video-sharing app, in response to an inside memo despatched to workers on Monday.

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

The shift is a part of a broader reorganization that may create six enterprise items inside TikTok’s guardian firm, ByteDance Chief Government Liang Rubo stated within the memo, reported earlier by Reuters. The brand new construction will embody TikTok, Douyin, work collaboration unit Lark, enterprise providers unit BytePlus, gaming unit Nuverse and training tech unit Dali.

ByteDance declined to touch upon the memo.

Chew was put in as TikTok’s CEO in April, eight months after the resignation of Kevin Mayer, its earlier chief government. 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 purpose for his departure then-US President Donald Trump’s menace to ban TikTok until it was bought to a US-based firm.