The move comes after ByteDance shelved its plan to go public
in April and said it had no imminent plans for an initial public offering
(IPO). It had previously planned for a Hong Kong or New York listing.
Chew joined ByteDance as CFO in March and was appointed as
TikTok CEO in May.
The Chinese tech company also plans a major reorganisation
to create six business units, ByteDance Chief Executive Liang Rubo said in the
memo sent to staff.
The six units are TikTok, Douyin, work collaboration unit
Lark, business services unit BytePlus, gaming unit Nuverse, and education tech
unit Dali.
Douyin is the Chinese version of TikTok. © Reuters