ByteDance names ex-Disney executive as COO and TikTok CEO

PALO ALTO, U.S. — Chinese technology giant ByteDance has appointed longtime media executive Keven Mayer as its chief operating officer and as the new CEO of its TikTok short-video app, the company announced Monday.

Kevin Mayer, who most recently served as The Walt Disney Co.’s chairman of direct-to-consumer and international, starts at ByteDance on June 1. He has more than 25 years of experience in the industry and will report directly to ByteDance founder and CEO Zhang Yiming.

“As one of the world’s most accomplished entertainment executives, Kevin is incredibly well placed to take ByteDance’s portfolio of products to the

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SoftBank CEO Son warns of fallen tech unicorns after coronavirus

TOKYO — SoftBank Group has reported a 1.43 trillion yen ($13.3 billion) net quarterly loss after big bets on real estate and ride-sharing misfired during the coronavirus pandemic, leading to plummeting valuations at its vaunted Vision Fund.

Masayoshi Son, SoftBank’s CEO, warned on Monday that the titan might not pay a dividend next year after its largest ever annual loss as a public company. He told investors to expect a clutch of business failures within the Vision Fund, a $100bn vehicle backed by outside investors.

“About 15 of 88 companies [in the Vision Fund] may go bankrupt. Another 15 will

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Hong Kong stock exchange CEO to depart after 10 years at helm

HONG KONG — Charles Li, the chief executive officer of Hong Kong Exchanges & Clearing since 2010, is leaving the stock exchange operator, and a search is underway to name his successor.

Li, 58 years old and the architect of the failed $36.5 billion bid for London Stock Exchange Group last year, informed the board that he would not seek reappointment as CEO when his contract ends in October 2021, HKEX said in a statement on Thursday. He has agreed to stay on until the end of the contract or until a successor is appointed, it said.

The statement did

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Sony CEO Yoshida navigates coronavirus and activist attacks

TOKYO — Before the novel coronavirus outbreak began, Sony CEO Kenichiro Yoshida had many reasons to be optimistic. Under his leadership the electronics-to-entertainment conglomerate had regained its momentum, and with it the respect of its shareholders. Yoshida, a quiet and reflective figure, had seen off an attack by the U.S. activist hedge fund Third Point, and was preparing for the launch of the next generation of its iconic PlayStation games console.

As he readies for Sony’s full-year results announcement on May 13, and to make its annual strategy presentation to investors a few days later, the world outside the company’s

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