Disney’s Head of Streaming, Kevin Mayer, is about to develop into TikTok’s chief govt, TikTok introduced Monday.Mayer may even function chief working officer of ByteDance, the Chinese language firm that owns TikTok, efficient June 1. Disney’s stock fell practically 1% in after-hours buying and selling Monday following the announcement after closing the buying and selling day up 7.15%.It is an enormous rating for TikTok, a social media platform that hosts brief kind movies. Mayer was thought of one of many prime candidates to switch former Disney CEO Bob Iger, earlier than Bob Chapek was in the end named chief govt.Mayer instructed CNBC’s Julia Boorstin Monday the transfer has nothing to do with being handed over for the job, however as a result of he noticed this as a great alternative. “I get pleasure from my job, I like Bob Chapek, and Disney’s a superb firm,” he mentioned. “When you could have a possibility like this you do not flip it down. I am not getting any youthful and it is such a great alternative. However I like Disney and had no need to depart.”Mayer can also be leaving Disney after the profitable launch of its streaming platform, Disney+, which rolled out in November and had 54.5 million subscribers as of Might 4.Mayer earned a repute at Disney as being the corporate’s prime deal maker. He spearheaded the corporate’s acquisition of BAMTech, which makes the streaming expertise that powers the corporate’s on-line video providers.He was additionally instrumental in Disney’s acquisitions of Lucasfilm (and the Star Wars franchise), Pixar, Marvel and 21st Century Fox during the last decade and a half.All of these properties have given Disney’s content material portfolio an enormous enhance, and resulted in a number of blockbuster movies, serving to Disney dominate the field workplace lately.Disney veteran Rebecca Campbell will take over as Disney’s head of streaming, the corporate introduced in a information launch. Campbell is a 23-year veteran of the Disney firm and has held management roles throughout Disney’s media, worldwide and parks companies. Most lately she served as president of Disneyland Resort.”I would not have left Disney if I did not suppose it was in nice fingers,” mentioned Mayer. “Rebecca – I’ve recognized her for years — she was a giant a part of the crew as head of Europe for Disney+. She’s great and can do an awesome job. She’s an awesome chief and he or she’s going to select up the reins and transfer ahead seamlessly.”TikTok has been going through heightened scrutiny over its privateness and censorship of content material in Asia, and U.S. politicians have raised nationwide safety issues. Mayer instructed CNBC that he has expertise with digital privateness and safety at Disney, and is ready to cope with privateness and information challenges going through TikTok. “I understand how to cope with these challenges and digital platforms virtually universally face these challenges. At Disney we had privateness concerns we dealt with nicely,” he mentioned.TikTok’s mother or father firm ByteDance is claimed to have a non-public valuation of about $78 billion.–CNBC’s Sarah Whitten contributed to this report.Subscribe to CNBC on YouTube.