Shou Zi ChewChief Financial Officer of ByteDance will step down from the company to focus on the position of Chief Executive Officer of TikTok. A decision announced by the same company, which in March welcomed Chew from Xiaomi Corp., entrusting him with the role of CFO. Just a few months later, the company also entrusted him with the role of CEO of the platform. Now, months later, ByteDance is working on an internal restructuring. And Chew’s resignation from his role proves it loud and clear.
ByteDance: Chew resigns as CFO to devote himself to TikTok
Lately Liang Rubo, co-founder of ByteDance, announced a restructuring of the company into six different segments: TikTok, the Chinese version Douyin, the professional collaboration platform Lark, the BytePlus business services unit, the Nuverse gaming unit and the Dali technology unit. Education. “As the company’s business evolves and the team grows, each company faces different opportunities and challenges”, commented Rubo about the project.
On the other hand, the company has found itself facing many difficulties in recent months. ByteDance was among the 34 of the largest Chinese tech companies that have publicly chosen to comply with the country’s anti-monopoly laws. And among the 13 companies that China’s central bank and other regulators have ordered to adhere to stricter regulation of their lending data and practices. And as if that were not enough, there were also all the problems related to the restrictions of the Trump government. At this point, it is no wonder that the company wants to revolutionize everything and aim for new successes.