TikTok Chief Government Officer Shou Zi Chew will step down as its mum or dad ByteDance’s chief monetary officer (CFO) to give attention to operating the quick video enterprise full time, in line with an inside memo the corporate shared with Reuters.
The transfer comes after ByteDance shelved its plan to go public in April and mentioned it had no imminent plans for an preliminary public providing (IPO). It had beforehand deliberate for a Hong Kong or New York itemizing.
Chew joined ByteDance as CFO in March and was appointed as TikTok CEO in Could.
The Chinese language tech firm additionally plans a significant reorganisation to create six enterprise models, ByteDance Chief Government Liang Rubo mentioned within the memo despatched to employees.
The six models are TikTok, Douyin, work collaboration unit Lark, enterprise providers unit BytePlus, gaming unit Nuverse, and training tech unit Dali.
Douyin is the Chinese language model of TikTok.
© Thomson Reuters 2021