ByteDance to reorganise into six units, CFO steps down to focus on TikTok

BEIJING: TikTok CEO Shou Zi Chew will step down as its parent ByteDance’s chief financial officer (CFO) to focus on running the short video platform full time, according to an internal memo the company shared with Reuters.

The memo, which was sent by ByteDance co-founder Liang Rubo to staff on Tuesday, also outlined a major reshuffle at the Beijing-based company to create six business units (BUs).

This is the biggest organizational change since ByteDance co-founder Zhang Yiming said in May he would step down as CEO. Zhang remains chairman and has more than 50% of voting rights. Liang will officially take over from Zhang as CEO in December.