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    Nigerian Air Force Helicopter crash-lands in Port Harcourt

    Nigerian Air Force Helicopter crash-lands in Port Harcourt

    ‘Ghana Must Go’ bags banned at airports – FAAN

    ‘Ghana Must Go’ bags banned at airports – FAAN

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    Abia State: Governor Alex Otti appoints new Head of Service

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    Musk declines Hamas’ invitation to visit Gaza, days after visiting Israel

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    Ekiti Government sues Chef Dammy’s pastor, demands N10m damages over rights infringement

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    JUST IN: Old naira notes to remain legal tender until further notice, Supreme Court rules

    • Nigeria
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    FG opens application for 4IR technologies, where to apply

    FG opens application for 4IR technologies, where to apply

    JUST IN: Tinubu signs Student Loan bill into law

    FULL TEXT: Tinubu’s speech on the N27.5 trillion 2024 budget

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    Full text of CBN Governor Yemi Cardoso’s keynote address at CIBN dinner

    83 students on Federal Government scholarship depart for Morocco

    83 students on Federal Government scholarship depart for Morocco

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    CBN Governor to unveil Bank’s Monetary Policy Trust and Economic Outlook for 2024

    FG launches Startup Support, how to apply

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    Lekki Deep Sea Port receives first transshipment vessel

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    JUST IN: FG revokes 1,633 mining licences

    JUST IN: FG revokes 1,633 mining licences

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    FG lists 4 border points in Ukraine Nigerians can cross to safety

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    Norwegian Energy company Equinor sells its Nigerian business

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    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

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    The NGX- ASI closed positive, 32bps despite negative trading activities

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    The NGX- ASI Closed Positive, Up 5bps

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    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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TikTok CEO quits amid battle with Washington

Thursday, 27 August 2020, 2:11 pm
in News, World
0
TikTok owner to suffer $6 billion loss from India Apps ban
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As TikTok battle with Washington continues, its Chief Executive Officer Kevin Mayer, has quit just months after his appointment, amid a “sharply changed” political environment after Donald Trump accused the platform of threatening national security.

Mayer said the scope of his role as the head of the video-sharing platform was more than he could manage.

His decision to leave the company comes days after TikTok filed suit against the Trump administration over an executive order that prevents the video-sharing app from making business transactions in the United States.

The former Disney executive would be replaced in the interim by Vanessa Pappas, the general manager.

In a letter to staff, parts of which have been seen by Investogist, Mayer said he had decided to leave after Trump ordered TikTok’s parent company, ByteDance, to sell its US assets to a US company within 90 days

“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,” the letter said.

“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.”

The Financial Times quoted an excerpt from the letter that said: “I understand that the role that I signed up for – including running TikTok globally – will look very different as a result of the US administration’s action to push for a sell off of the US business.”

Read also; Just in – Akinwumi Adesina re-elected AfDB President

TikTok said in a statement it thanked Mayer for his time and wished him well. “We appreciate that the political dynamics of the last few months have significantly changed what the scope of Kevin’s role would be going forward, and fully respect his decision,” it said.

ByteDance, which owns TikTok, said in a statement that it hopes to quickly resolve the business hurdles that it faces in the US according to The Guardian.

US tech companies including Microsoft, Twitter and Oracle, have expressed interest or announced talks with ByteDance to acquire some of TikTok’s operations outside China.

TikTok’s Chinese ownership has raised concern about the potential for sharing user data with Chinese officials as well as censorship of videos critical of the Chinese Communist Party government. TikTok says it does not censor videos and it would not give the Chinese government access to US user data.

In early August Trump threatened to ban TikTok on the basis of national security concerns.

Trump later issued a pair of executive orders banning US transactions  with the Chinese companies ByteDance that owns TikTok, and Tencent which owns WeChat, saying the US must take “aggressive action” in the interest of national security. TikTok is suing the US government over the executive orders

Written by;

Ifunanya Ikueze

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UPDATED: Nigerian Lady falls to death with Infant Child in Bahrain

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