Xiaomi CFO Zhou Shouzi moves to ByteDance

It is reported that Zhou Shouzi, former senior vice president of Xiaomi Group, resigned from his position as executive director of the group for personal reasons, effective March 24, 2021.

According to the Xiaomi Group announcement, Liu De has been appointed as executive director, effective March 24, 2021. Liu De will continue to serve as partner, senior vice president and head of the Organization Department of Xiaomi Group.

It is understood that Liu De, 47 years old, is the co-founder, partner, senior vice president and head of the organization department of Xiaomi Group. He is currently responsible for the recruitment, promotion, training and assessment of the group's middle and senior management, as well as the organizational structure design and approval procedures of various departments.

Zhou Shouzi is a Singaporean citizen. He graduated from the Department of Economics at University College London and holds an MBA from Harvard Business School. Zhou Shouzi joined DST in 2010. In the past five years, he has invested in companies such as Xiaomi, JD.com, Alibaba, and Didi Dache. In November 2019, he became the president of Xiaomi International Department, and continued to serve as senior vice president and CFO.

On August 16, 2020, Xiaomi CEO Lei Jun announced: Today is a special day, Xiaomi has started its journey of "re-starting a business". Lei Jun also said that Wang Xiang, Zhou Shouzi, Zhang Feng and Lu Weibing, four senior group executives, have become Xiaomi partners, and are Xiaomi's "co-founders" for the next decade. On March 24, 2021, Zhou Shouzi announced his departure from Xiaomi.

Zhou Shouzi said that he wanted to thank the Xiaomi board of directors, partners and every Xiaomi student for giving him the opportunity to contribute to this great company. He also thanked the team that worked with him for their trust and friendship.

Lei Jun was also mentioned in the original text of the statement. Zhou Shouzi said that he was very grateful to Mr. Lei for giving him the opportunity many years ago. Thank you, Mr. Lei.

Subsequently, ByteDance issued an internal letter announcing that former Xiaomi senior vice president Zhou Shouzi joined ByteDance as CFO, based in Singapore.

The internal letter mentioned that "Zhou Shouzi is very familiar with our business, team and culture. He knew us when he was working at DST and pushed DST to invest in ByteDance at a very early stage."

The internal letter stated that it believes that Zhou Shouzi’s joining will help ByteDance continue to expand its global business.