[Asia Economy Reporter Yujin Cho] TikTok has appointed Shou Zi Chu, the Chief Financial Officer (CFO) of its parent company ByteDance, as its new Chief Executive Officer (CEO), the Wall Street Journal (WSJ) reported on the 30th.
TikTok announced through a blog post that Chu will serve as both ByteDance's CFO and TikTok's new CEO.
Following the sudden resignation of former CEO Kevin Mayer, who came from Disney, Vanessa Pappas has been serving as interim CEO.
Chu, who worked as CFO at Xiaomi since 2015, joined ByteDance last month as the new CEO.
WSJ reported that his appointment comes amid ongoing tensions between the U.S. and China surrounding TikTok for over a year.
Former President Donald Trump issued a ban order, claiming TikTok was endangering U.S. security by handing user information over to the Chinese government.
Subsequently, U.S. courts blocked the ban, effectively nullifying it, and with Trump's failed reelection, the forced sale negotiations of TikTok with Oracle and Walmart have also been halted.
The Joe Biden administration is currently assessing whether TikTok poses a national security threat.
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