Eight months after former TikTok CEO Kevin Mayer resigned in the midst of the Trump administration’s full-court press against the Chinese-owned social media giant, TikTok has a new permanent leader.
ByteDance CFO Shouzi Chew will take over as TikTok CEO while continuing to serve as CFO at its parent company, the company announced Friday morning. It’s a risky move that suggests the company believes the worst of its squabbles with the US Executive branch is over, as President Biden has shown no interest in picking up former President Trump’s pet project.
Vanessa Pappas, who was serving as interim CEO, will be promoted to COO.
Yiming Zhang, CEO of ByteDance, stated in a press release, “The leadership team of Shou and Vanessa sets the stage for sustained growth .” “Shou 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, focusing on areas including corporate governance and long-term business initiatives.”
Chew was an executive at Xiaomi before joining ByteDance earlier this year, and he has previously worked at DST and Goldman Sachs.