TikTok, the favored short-video app, has named ByteDance Chief Monetary Officer Shouzi Chew as CEO, filling the highest management place after the departure of Kevin Mayer final yr. Vanessa Pappas, who has served as interim head, has been named chief working officer.

Chew, who joined ByteDance final month as CFO, will stay in his put up on the Beijing-based firm, in keeping with a statement Friday. Beforehand, Chew spent a lot of years as CFO and worldwide enterprise president of Xiaomi Corp., the place he took the gadget maker public in one of many largest-ever Chinese language tech listings on the Hong Kong Inventory Alternate.

Chew, who hails from Singapore, is fluent in English and Chinese language, and may simply navigate the halls of Chinese language tech firms and the boardrooms of banks like Goldman Sachs Group, the place he frolicked in its funding banking unit. He additionally beforehand labored for DST Funding Administration, which took an opportunity on ByteDance founder and CEO Zhang Yiming as an early investor within the firm. The transfer to rent Chew is an indication ByteDance is shifting towards an IPO of a few of its companies.