TikTok's main China rival loses global business chief

TikTok's China rivals, Kuaishou Technology lost another senior executive, following its stock's poor performance over the last year. — REUTERS

Kuaishou Technology’s international business leader Tony Qiu has departed the company, according to people familiar with the matter, expanding a management reshuffle at TikTok’s biggest Chinese rival.

Qiu, who joined Kuaishou in August 2020 from ride-hailing giant Didi Global Inc., was tasked with taking China’s No. 2 short-video hub to global markets. The former Bain Capital investor quit due to personal reasons, and has yet to decide on his next move, said the people, asking to not be identified discussing private information.