As per reports by Bloomberg, Bytedance has announced that Shou Zi Chew is the new CEO of TikTok after the previous CEO, Kevin Meyer departed last year.
Chew will remain in the position starting 30th April, according to a statement. Previously, Chew worked as the Chief Finance Officer of Xiaomi and lead the company to becoming public and being listed on the Hong Kong Stock Exchange.
According to The Strait Times, Bytedance hired Chew as CEO to drive some of the company’s subsidiaries into becoming public, and offering IPOs.
While TikTok is popular in many regions of the world, it still has to tackle serious issues including its tensions from the United States as well as privacy concerns, especially to children, whom use the app very frequently.
Previously, former US President Donald Trump has ordered to sell TikTok to US companies, one of which was interested is Microsoft, or face being banned in the country. The app was also previously fined US$5.7 million, accusing of breaching privacy by illegally obtaining sensitive and personal information from minors, who currently are the most populous in the app. A similar lawsuit initiated in the UK and some countries in Europe on behalf of millions of children.
Source: The Straits Times