TikTok parent company ByteDance looking to shift out of China

TikTok's poaching of Disney's Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions

The new hire, Michelle Huang, is a former Softbank investor who worked on the Japanese firm's investment in ByteDance. Huang did not immediately respond to an emailed request for comment.

The strategy is aimed not only at Tiktok, which is not available in China, but all of byteDance's non-China focused businesses, the sources said. Such businesses also include units in India like social networking app Helo.

Reportdly, the company has expanded its engineering & R&D operations in California, and it has also hired a New York-based investor relations director to stay in touch with major investors including General Atlantic & KKR, relationships that were previously managed through Beijing

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