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Short video platform Kuaishou CEO steps down - PingWest

 3 years ago
source link: https://en.pingwest.com/w/9438
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Short video platform Kuaishou CEO steps down

Short video platform Kuaishou CEO steps down

12 hours ago

Su Hua, co-founder and CEO of China's second-largest short video platform Kuaishou Technology, today steps down from the company.

Details:

The company announced on Friday that Cheng Yixiao, co-founder and chief product officer, has been appointed as CEO and is responsible for the company’s daily operations and business development, and will report to Su Hua.

Su Hua continues to serve as the chairman of the board of directors, executive director and member of the remuneration committee, devoting more time to formulating the company's long-term strategy.

Previously, in September, the company started adjustment of the company's organizational structure, and Yan Qiang, the senior vice president of Kuaishou commercialization unit, resigned.

Context:

Kuaishou faces stiff competition in domestic and overseas from rival ByteDance, which owns Douyin and TikTok.

Citing sources familiar with the matter, Chinese news outlet LatePost reported that Kuaishou had prepared a budget of $1 billion to gain more users overseas, of which at least $100 million will be invested in Brazil. 

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