ByteDance, the Chinese owner of short video hit TikTok, will add four seats to its board, increasing the number of directors to nine, according to two people familiar with the matter, a move that comes as the company faces an increasingly complex global environment, reports the South China Morning Post.
The proposal to increase the board size received approval at its extraordinary shareholders meeting on Tuesday, paving the way for the biggest change to its board since the company was formed, according to one of the two sources, who both declined to be named as they are not authorized to speak to the media.
It is not known whether any of the existing board members will be replaced. The nationalities of the new board members are also unknown. A ByteDance representative said on Wednesday that the company proposed to change “the maximum size of the board” at the shareholder meeting, without further elaborating.