ByteDance CEO Zhang Yiming steps down, transitioning to new role
A symbol of TikTok (Douyin) is pictured at The Place shopping mall at dusk on August 22, 2020 in Beijing, China.
VCG | Visual China Group | Getty Images
GUANGZHOU, China – Zhang Yiming, co-founder of ByteDance, will step down as CEO and move to a new role, the company said Thursday.
Another co-founder, Liang Rubo, who is currently responsible for human resources, will take over as CEO of ByteDance globally and Zhang will take on a key strategic role at the end of 2021.
“There is still a lot to improve, and I think someone else can move things better in areas like improving day-to-day management. The truth is, I don’t have some of the skills that make an ideal manager, ”Zhang said in a note. to employees.
“I’m more interested in analyzing organizational and market principles, and using those theories to further reduce managerial work, rather than managing people. Likewise, I am not very sociable, preferring solitary activities like being online, reading, listening to music, and dreaming about what might be possible, ”he said.
ByteDance said Zhang and Liang “will work side by side over the next six months to ensure the smoothest transition possible.”
– This is breaking news. Please come back for more.