The fastest-growing Popular Short video-sharing app TikTok has appointed former bytedance CFO Mr. Shouzi Chew as new CEO. The social media giant confirmed the news on Friday that it had replaced Kevin Mayer a year after his departure through an official statement. Chew will remain as the CEO of tiktok alongside being the CFO of its parent company.
Chew has previously been a senior executive at Chinese tech giant Xiaomi. He also gained experience in investment banking working previously on Goldman Sachs earlier in his career. Through his past experiences, TikTok hopes the new CEO will capitalize on its massive user base with corporate governance along with formulation of long-term business initiatives. The major task for chew will be to reinitiate the application in its major markets where it has been banned for almost a year. Last year tik-tok lost its two of the major markets after the ban on the app by the United States and India alleging TikTok’s misuse of citizen’s sensitive and private data. Vanessa Pappas who was acting as an intern CEO of tik-tok will be the new chief operating officer (COO ) and will handle TikTok’s day-to-day operations.
” The leadership team of chew and Vanessa will set the stage for sustained growth. Chew brings deep knowledge of the company and industry, having led a team that was among our earliest investors, and having worked in the technology sector for a decade. He will add depth to the team, I’m excited to deepen my partnership with chew, and develop an even richer TikTok platform to provide people around the world a meaningful and entertaining experience. The TikTok journey is just beginning.”
Shortly after the appointment, Shouzi Chew stated he will work on perfecting TikTok’s algorithm, identify and promote new creators. Introduce a variety of creator reward programs and comply with us and Indian laws through which the app can run smoothly in those countries where it is currently banned.