TikTok Chief Government Officer Shou Zi Chew will step down as its guardian ByteDance’s chief monetary officer (CFO) to deal with working the brief video enterprise full time, in response to an inner 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 serious reorganisation to create six enterprise items, ByteDance Chief Government Liang Rubo mentioned within the memo despatched to workers.
The six items are TikTok, Douyin, work collaboration unit Lark, enterprise companies unit BytePlus, gaming unit Nuverse, and training tech unit Dali.
Douyin is the Chinese language model of TikTok.
© Thomson Reuters 2021