Right after announcing his resignation, Chew Shou Zi changes sides. The one who until now held the position of head of international operations at Xiaomi moved to another Chinese giant: ByteDance, parent company of the famous TikTok. He will occupy the position of CFO (CFO) while being based in Singapore, his country of origin. According to Xiaomi, Chew Shou Zi’s decision is linked to family reasons and was taken after the company announced its financial results for the fourth quarter of 2020. In all likelihood, his departure from Xiaomi is peaceful.
A visibly peaceful defector to ByteDance
« After being away from home for 18 years, I will be based in my home country, Singapore “, Particularly welcomed Chew Shou Zi in a post shared on Weibo. ” I am fully confident in the future of Xiaomi and have never doubted it: this company will become one of the biggest “, he added. Lei Jun, founder and CEO of Xiaomi (in the foreground in the illustration photo), for his part mentioned the departure of a “ brother “Which is” beaten by his side for six years “, Further wishing him a” unlimited enthusiasm For his future projects.
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As the South China Morning Post explains, Chew Shou Zi’s entry into the ranks of ByteDance comes as the firm expands its activities to Singapore, where its regional HQ is located. It is also here that Zhu Wenjia (former head of news aggregator Toutiao, owned by ByteDance) must be relocated as director of research and development of TikTok.
A major figure in Xiaomi’s organizational chart, Chew Shou Zi joined the Chinese smartphone giant during 2015. He already had a solid professional background, after having distinguished himself in investment banking Goldman Sachs and having worked for DST Global, where he was heavily involved in the investments made with some big names in Chinese Tech (including Xiaomi, JD.com, Alibaba Group Holding and Didi Chuxing).
According to the SCMP, the businessman held some 50 million Xiaomi shares in the first quarter of 2021, for an estimated value of almost 142 million euros. What to keep a certain link with his former employer.