The boss of Free is now part of the board of directors of Bytedance, the parent company of Tiktok.
A new surprise after the announcement of an event at the Olympia to present his book. Xavier Niel, the boss of Free, has joined the management of Bytedance, the parent company of Tiktok, as reported by the media The Information.
He is now part of the Chinese company’s board of directors, which has four other members, including CEO Rubo Liang. “We are delighted to have Xavier join our board and look forward to his guidance, contribution and inspiration,” a Bytedance representative told the South China Morning Post.
Free boss and investor
For the moment, Xavier Niel has not yet communicated about his new role. It is not known what he will do within this board of directors. If he is mainly known as the boss of Free, we must not forget that he is also an investor who is interested in several fields. He notably invested in the French research laboratory on artificial intelligence Kyutai.
This may be what prompted Bytedance to choose him. The company has other entrepreneurs who are heads of private equity firms on its board. Xavier Niel also replaces Philippe Laffont, founder of the investment management firm Coatue Management.
It should also be noted that since 2018, Xavier Niel has been on the board of directors of the American investment fund KKR, which itself invested in Bytedance. However, according to The Information, he does not own any shares in the Chinese company.
The change in Bytedance’s leadership comes as TikTok faces the threat of a ban in the United States following a law signed by Joe Biden in April. It requires the Chinese company to sell its American subsidiary by the end of the year or face being banned. Faced with this risk, the social network has filed a complaint against the United States, in the hope of slowing down or even overturning the ban.
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