TikTok taps new CEO from Chinese parent firm

The fast-growing video-sharing app TikTok named a new top executive Friday who will keep his responsibilities at Chinese parent firm ByteDance.

A statement said Shouzi Chew, ByteDance’s chief financial officer, will now also become CEO of TikTok.

Vanessa Pappas, who has served as interim head, will formally take the role of TikTok chief operating officer, the company said, continuing with her current responsibilities.

The announcement was described as a “strategic reorganization to optimize TikTok’s global teams and support the company’s unprecedented growth.”

“The leadership team of Shou and Vanessa sets the stage for sustained growth,” said Yiming Zhang, founder and CEO of ByteDance.