TikTok has a new CEO
May 3, 2021. Summarized by summa-bot.
Compression ratio: 27.9%. 1 min read.
BEIJING, CHINA - AUGUST 20: The reflection of a cyclist is seen in a billboard advertising Chinese video app TikTok at Wangfujing street on August 20, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images)
TikTok has finally appointed a new permanent chief executive, eight months after its former leader called it quits as the United States was threatening to ban the app.
Hong Kong (CNN Business)TikTok has finally appointed a new permanent chief executive, eight months after its former leader called it quits as the United States was threatening to ban the app.
He joined the company earlier this year as chief financial officer of ByteDance, TikTok's Chinese owner.
But TikTok was later embroiled in a dramatic, months-long battle in the United States, after the Trump administration threatened to ban the short video platform unless it sold its American business to a US entity.
This February, the Biden administration asked a federal court to pause litigation over Trump's attempts to ban TikTok from the United States, while it conducted a review of the previous administration's approach to the social media company.
Policymakers' chief worry last year was that ByteDance could be forced to hand over TikTok's data on US users to the Chinese government, under the country's national security laws.