• Home
  • Apps
  • Apps News
  • ByteDance to Reorganise as CFO Shou Zi Chew Steps Down to Focus on TikTok, Memo Shows

ByteDance to Reorganise as CFO Shou Zi Chew Steps Down to Focus on TikTok, Memo Shows

Chew joined ByteDance as CFO in March and was appointed as TikTok CEO in May.

ByteDance to Reorganise as CFO Shou Zi Chew Steps Down to Focus on TikTok, Memo Shows

ByteDance also plans a major reorganisation to create six business units

Highlights
  • Shou Zi Chew joined ByteDance as CFO in March
  • Chew was appointed as TikTok CEO in May
  • Douyin is the Chinese version of TikTok

TikTok Chief Executive Officer Shou Zi Chew will step down as its parent ByteDance's chief financial officer (CFO) to focus on running the short video business full time, according to an internal memo the company shared with Reuters.

The move comes after ByteDance shelved its plan to go public in April and said it had no imminent plans for an initial public offering (IPO). It had previously planned for a Hong Kong or New York listing.

Chew joined ByteDance as CFO in March and was appointed as TikTok CEO in May.

The Chinese tech company also plans a major reorganisation to create six business units, ByteDance Chief Executive Liang Rubo said in the memo sent to staff.

The six units are TikTok, Douyin, work collaboration unit Lark, business services unit BytePlus, gaming unit Nuverse, and education tech unit Dali.

Douyin is the Chinese version of TikTok.

© Thomson Reuters 2021


How's Nokia brand licensee trying to compete against Realme and Xiaomi in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: TikTok, ByteDance, Douyin
Amazon Great Indian Festival 2021 Sale Ends Tonight: Best Deals on Mobile Phones, Electronics
The Book of Boba Fett Trailer Immerses Us in the Star Wars Underworld

Related Stories

Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2022. All rights reserved.
Listen to the latest songs, only on JioSaavn.com