Business

TikTok CEO Resigns Amid US Pressure to Sell Video App

HONG KONG—TikTok CEO Kevin Mayer resigned Thursday amid U.S. pressure for the company to find a new owner independent of Chinas Communist Party over what the White House says was security risks to Americans data.

In a letter to employees, Mayer said that his decision to leave comes after the “political environment has sharply changed.”

His resignation follows President Donald Trumps order to ban TikTok unless its Chinese parent company, ByteDance, sells its U.S. operations to an American company within 90 days.

“I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for,” he said in the letter. “Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company.”

Bytedance is currently in talks with Microsoft for the U.S. firm to buy TikToks U.S. operations.

Mayer, a former Disney executive, joined TikTok as CEO in May.

TikTok thanked Mayer.

“We appreciate that the political dynamics of the last few months have significantly changed what the scope of Kevins role would be going forward, and fully respect his decision,” the company said in a statement.

ByteDance launched TikTok in 2017, then bought Musical.ly, a video service popular with teens in the U.S. and Europe, and combined the two. A twin service, Douyin, is available for Chinese users.

TikTok gained immense popularity via its fun, goofy videos and ease of use, and has hundreds of millions of usersRead More – Source

Show More

Related Articles

Back to top button
Close