TikTok, the ultra-popular short-form video app, has hired a top Walt Disney Co. executive to be its new CEO by abebrown716
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Disney has been badly damaged by the pandemic as Covid-19 forced it to close its lucrative parks and cruise line businesses. Iger has taken back some control over the company—he remains the executive chairman—while Disney rushed to assemble a $6 billion debt offering in March. It haswith Chapek agreeing to halve his salary and Iger agreeing to forgo one entirely.
Mayer could not be leaving for a more different environment. TikTok was already a big hit before lockdown—and has seen its popularity soar since. It was downloaded more than 315 million times in the first quarter, according to data from SensorTower, which tracks app downloads. That figure represents the most downloads in a single quarter that SensorTower has ever counted up.
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