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ByteDance to reorganize, CFO steps down to focus on TikTok - memo

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FILE - This Feb. 25, 2020, file photo, shows the icon for TikTok in New York. The video app said it will wage a legal fight against the Trump Administ...

FILE - This Feb. 25, 2020, file photo, shows the icon for TikTok in New York. The video app said it will wage a legal fight against the Trump Administ...

BEIJING, Nov 2 (Reuters) - TikTok Chief Executive Officer Shou Zi Chew will step down as its parent ByteDance's chief financial officer (CFO) to focus on running the short video business full time, according to an internal memo the company shared with Reuters.

The move comes after ByteDance shelved its plan to go public in April and said it had no imminent plans for an initial public offering (IPO). It had previously planned for a Hong Kong or New York listing.

Reporting by Yingzhi Yang and Brenda Goh; Editing by Himani Sarkar