- Ticket OK has contacted Instagram co-founder Kevin Systrom about becoming the next CEO of the app, The New York Times reported on Thursday.
- Kevin Meyer, the last CEO of Ticket OK, will resign at the end of August after just three months on the job.
- However, finding a new CEO may be a priority, given the terms of a deal between ticketing parent company Bytens, Oracle and the U.S. government to avoid U.S. sanctions. Reports suggest that Ticket OK will split into its own company with a US CEO and a board made up mostly of Americans.
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Instagram co-founder Kevin Systrom has been approached as a potential candidate to become the CEO of Ticket OK, The New York Times reported on Thursday.
Ticket OK has not had a CEO since the end of August, when Kevin Meyer resigned from the role after three months in the job. But the U.S. According to the terms of the deal, the company has filed a lawsuit in the U.S. to show its separation from the Chinese parent company Bytens. C.E. Will have to get. Ticket ok U.S. General Manager Vanessa Pappus has been acting CEO since the mayor’s resignation.
Talks between Ticket OK and Sistrom are “preliminary” and no final decision has been made, according to the Times. Sistrom endorsed Instagram in 2010, and served as CEO of the photo-sharing app through its Facebook acquisition until he and another Instagram co-founder, Mike Krieger, resigned in September 2018.
U.S. A clear picture of the restructuring of the ticket ok, designed to allay the government’s national security concerns, came out this week. As part of the deal, Ticket OK will break up as its U.S.-headquartered company, and U.S.-based investors will own a majority of it from ByteDance. Oracle is expected to take a 20% stake, while Walmart and other investors will take smaller shares.
According to the report, as part of the deal – which will require the approval of President Donald Trump and the Chinese government – Ticket OK will have to hire a US CEO and a board of directors made up mostly of Americans.
Ticket OK did not have a global CEO before appointing a former Disney executive mayor in June. Created a position in 2020 as part of a demonstration of its separation from the bytes. The mayor’s resignation referred to “corporate structural changes” and a changing “political climate.”
Sistrom co-founded Instagram with Mike Krieger in 2010, two years before it was bought by Facebook for 1 billion. Sistrom and Krieger abruptly stepped down from their roles in September 2018, at the behest of a photo-sharing app reportedly stepped up by “growing tensions” between Instagram founders Instagram and Facebook CEO Mark Zuckerberg.
