Employees walk outside the headquarters of ByteDance, the owner of video sharing app TikTok, in Beijing, China, on Aug 5, 2020. (NOEL CELIS / AFP)
ByteDance, the owner of popular short video app TikTok, will expand its board of directors to a maximum of nine, a person with direct knowledge of the matter said on Wednesday.
Shareholders approved the move at an investor meeting on Tuesday, boosting the figure from the previous maximum of five, the source said seeking anonymity as the information was confidential.
ByteDance did not immediately respond to a Reuters request for comment.
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The five-strong board of the Beijing-based company includes its new chief executive, Liang Rubo, who took over as chairman from founder and former chief executive Zhang Yiming stepped down.
The other directors are representatives of General Atlantic, Sequoia Capital, Coatue Management, and Susquehanna International Group, Reuters has reported.
Earlier, a Hong Kong daily reported citing two unidentified sources that the company would add four directors to the existing five.
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In March, Reuters reported that TikTok is nearing a deal for Oracle Corp to store its US users' information without access by Chinese parent ByteDance.