TikTok Names ByteDance’s Chew as New CEO; Pappas COO
- Chew’s experience in investment banking signals possible IPO
- App avoided a ban in the U.S., but privacy concerns remain
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TikTok, the popular short-video app, named ByteDance Ltd. Chief Financial Officer Shouzi Chew as chief executive officer, filling the top leadership position after the departure of Kevin Mayer last year. Vanessa Pappas, who has served as interim head, was named chief operating officer.
Chew, who joined TikTok parent ByteDance last month, will remain in his post at the Chinese company, according to a statement Friday. Previously, Chew spent several years as CFO and international business president of Xiaomi Corp., where he took the gadget maker public in one of the largest-ever Chinese tech listings on the Hong Kong Stock Exchange.