S'porean to head popular Chinese app TikTok

NEW YORK • TikTok, the popular short-video app, has named ByteDance chief financial officer (CFO) Chew Shou Zi as chief executive officer, filling the top leadership position after the departure of Mr Kevin Mayer last year.

Ms Vanessa Pappas, who served as interim head, was named chief operating officer.

Mr Chew, who joined TikTok parent ByteDance in March, will remain in his post at the Chinese company, said a statement on Friday.

Mr Chew was previously CFO and international business president at Xiaomi, where he took the gadget maker public in one of the largest-ever Chinese tech listings on the Hong Kong bourse.

A Singaporean, Mr Chew is fluent in English and Chinese. He is also experienced in navigating the halls of Chinese tech firms and the boardrooms of banks like Goldman Sachs, where he spent time in its investment banking unit.

He also previously worked for Mr Yuri Milner's DST Global, which took a chance on ByteDance founder and CEO Zhang Yiming as an early investor in the company.

The move to hire Mr Chew is seen as a sign that ByteDance is moving towards an initial public offering of some of its businesses.

TikTok is still enjoying explosive popularity, but Mr Chew will have to navigate the political tensions between the United States and China, and rising concerns about data privacy, especially involving children who populate the app.

"The leadership team of Shou and Vanessa sets the stage for sustained growth," Mr Zhang said.

"(Shou) will add depth to the team, focusing on areas including corporate governance and long-term business initiatives."

Ms Pappas will maintain her current responsibilities, including managing TikTok's key operations.

BLOOMBERG