In this July 13, 2015, file photo, then Disney chief strategy officer Kevin Mayer visits the company's "accelerator" space in Glendale, Calif. TikTok CEO Mayer resigned Thursday, Aug. 27, 2020 amid U.S. pressure for its Chinese owner to sell the popular video app, which the White House says is a security risk. His resignation comes after U.S. President Donald Trump ordered a ban on TikTok, unless parent company Bytedance sells its U.S. operations to an American company within 90 days. (AP Photo/Damian Dovarganes, File)
By Zen Soo
TikTok CEO Kevin Mayer resigned Thursday amid U.S. pressure for its Chinese owner to sell the popular video app, which the White House says is a security risk.
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 Trump's order to ban TikTok unless its 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 TikTok's 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 Kevin's 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 users globally.
But its Chinese ownership has raised concerns about potential censorship of videos, including those critical of the Chinese government, and the risk Beijing may access user data.
Earlier this month, Trump ordered a sweeping but unspecified ban on dealings with the Chinese owners of consumer apps TikTok and WeChat as the U.S. heightens scrutiny of Chinese technology companies, citing concerns that they may pose a threat to national security.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.
One of the world's largest renewable energy developers will be getting hundreds of wind turbines from General Electric spinoff GE Vernova as part of a record equipment order and long-term service deal.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.
Wall Street is drifting higher after reports showed the job market remains solid, but key parts of the economy still don’t look like they’re overheating.
