TikTok owner ByteDance moves to shift power out of China, say sources

TikTok's parent company ByteDance has quietly made a series of moves in recent months to transfer global decision-making and research capabilities out of its home country, the sources said. — Reuters

BEIJING/NEW YORK/WASHINGTON: 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, several people familiar with the plans said.

The short video app's parent company ByteDance has quietly made a series of moves in recent months to transfer global decision-making and research capabilities out of its home country, the sources told Reuters.