ByteDance’s CFO is stepping down to focus on his role as CEO of TikTok

The TikTok app brand at the App Retailer.

Jacob Borzeki | Norfoto | Getty Pictures

GUANGZHOU, China – The manager monetary officer of TikTok proprietor ByteDance will step down to concentrate on his function as CEO of the quick video app, in line with an interior memo received by means of Long term Information.

Shou Zi Bite joined ByteDance as leader monetary officer of smartphone maker Xiaomi in March, fueling hypothesis that the corporate is also on the right track for an preliminary public providing. ByteDance stated in April that it had no plans to checklist imminently.

Bite turned into CEO of the quick video app TikTok in Might.

The transfer is a part of a broader reorganization inside ByteDance the place six trade devices were created, CEO Liang Rubo informed workers within the memo.

The primary trade unit is Douyin, the Chinese language model of TikTok, which can even come with information aggregation provider Toutiao from ByteDance.

Different modules come with Lark Trade Collaboration, Dali Training Trade and BytePlus Undertaking Era Platform.

Nuverse’s trade will center of attention on ByteDance’s gaming efforts, whilst the TikTok unit will center of attention at the brief video app.

Liang stated the adjustments can be made all the way through a gentle transition length.

ByteDance is taking a look to reorganize its trade this yr together with senior control. In Might, Zhang Yiming, co-founder of ByteDance, resigned as CEO and moved to a strategic function. Liang took over as CEO.

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