TikTok made ByteDance Executive as new CEO

TikTok has appointed ByteDance Executive as the new CEO.

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TikTok has appointed ByteDance Executive as the new CEO.

The chief financial officer of ByteDance, Shouzi Chew, will become the new CEO of TikTok as the company plots its future following last summer’s drama with the Trump Administration. TikTok had no CEO since Kevin quit the job.

Chew is a recent addition to Chinese-owned ByteDance, joining only a month ago as its CFO. Chew ascends to the top job at a pivotal moment for TikTok. The social media app attracted millions of followers in a short period. The app competes with other platforms like Snapchat and Instagram.

The company has also announced to struck a deal with Oracle ORCL -0.4% and Walmart WMT -0.1%, though the exact dimensions of the transaction were unclear. But the deal was never consummated, and it has stayed in limbo since.

The new CEO, however, is in conflict with the Biden administration regarding public scrutiny and finances. However, dialogue is in process.