Chief Executive Officer of Chinese short video sharing app TikTok Kevin Mayer, has resigned from the company less than three months after TiKTok had poached him from mass media company Walt Disney Co. (DIS) where he was serving as chief of streaming.
Mayer’s resignation comes at a time when TikTok is on the chopping board when comes to escalated trade disputes between China and the United States. Last week, U.S President Trump gave TiKToK an ultimatum of 45 days to enter into an agreement to sell its U.S operations to an American company preferably Microsoft Corp. (MSFT) which comes out as a front runner in the acquisition race.
“In recent weeks, as the political environment has sharply changed, 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. 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,” said Mayer in a detailed letter to employees.
Following Mayr’s exit TikTok says its U.S general manager Vanessa Pappas will assume the CEO position but in an interim basis. The company also confirmed the letter authored by Mayer doing rounds as true.
Founder and CEO of TikTok’s parent company ByteDance Zhang Yiming confirmed the resignation also further saying Mayer found himself between a rock and a hard place considering the TikTok’s woes with Trump’s administration.
“It is never easy to come into a leadership position in a company moving as quickly as we are, and the circumstances following his arrival made it all the more complex. He (Mayer) had joined just as the company was entering arguably our most challenging moment,” said Yiming.