TikTok app brand on the App Retailer.
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GUANGZHOU, China — TikTok proprietor ByteDance’s finance chief will step right down to concentrate on his function as CEO of the quick video app, in keeping with an inner memo obtained by CNBC.
Shou Zi Chew joined ByteDance as CFO from smartphone maker Xiaomi in March, sparking hypothesis the corporate may very well be on monitor for an preliminary public providing. ByteDance stated in April it had no imminent plans to listing.
Chew turned the CEO of quick video app TikTok in Might.
The transfer is a part of a broader reorganization inside ByteDance during which six enterprise items have been created, the corporate’s CEO Liang Rubo instructed workers within the memo.
The primary enterprise unit is Douyin, the Chinese language model of TikTok, which may also embody ByteDance’s Toutiao information aggregation service.
Different items embody work collaboration division Lark, training enterprise Dali and enterprise expertise platform BytePlus.
The Nuverse enterprise will concentrate on ByteDance’s gaming efforts, whereas the TikTok unit will concentrate on the quick video app.
The modifications will happen over a gradual transition interval, Liang stated.
ByteDance has regarded to reorganize its enterprise this 12 months together with higher administration. In Might, Zhang Yiming, co-founder of ByteDance, stepped down as CEO and transitioned into a technique function. Liang took over as CEO.
