ByteDance 
Xiaomi 
TikTok 
TikTok announced a new CEO and COO, in what its Chinese parent company ByteDance said was "a strategic reorganization" to optimize the popular short-form video app's global teams and support its continued growth.Shou Zi Chew, who joined ByteDance last month as CFO, will now also become CEO of TikTok. Vanessa Pappas, who has served as interim head of TikTok, will formally assume the role of chief operating officer, continuing with her current responsibilities.It's the first official CEO appointment for TikTok...
TikTok
Shou
Chew
CEO
TikTok chief Chew tried to assuage the U.S. government’s longstanding concerns — which bridge the Trump and Biden Administrations — that user data culled from its video app is being shared with China by pointing out in June that he’s “a Singaporean based in Singapore.” The truth is actually more complicated than that, given the tight reins parent company ByteDance has on the algorithm-powered video-sharing app, which generated $4.8 billion in revenue in 2021 (a 142% year-over-year increase) and surpassed 1.6 billion active monthly users in 2022. But TikTok is not so powerful as to be immune to the challenges of running a business in a tough global economy, and Chew has brought financial discipline to the operation with skills sharpened at previous key roles as a venture capitalist with DST Global and a chief financial officer at Xiaomi.