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CEO of TikTok owner ByteDance to step down and move into a new role

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CEO of TikTok owner ByteDance to step down and move into a new role

GUANGZHOU, China — Zhang Yiming, co-founder of ByteDance, will step down as CEO and transition to a new role, the company said on Thursday.

Another co-founder, Liang Rubo, who’s currently head of human sources, will take over as CEO of ByteDance globally and Zhang will move into a key strategy role at the stop of 2021.

Early Newspaper

“There are tranquil many issues that we want to enhance, and I personal someone else can better drive growth thru areas fancy improved daily management. The reality is, I lack some of the talents that make an ideal manager,” Zhang said in a display to staff.

“I am more attracted to analyzing organizational and market principles, and leveraging these theories to additional decrease management work, rather than actually managing of us. Similarly, I am no longer very social, preferring solitary activities fancy being online, reading, listening to track, and daydreaming about what may be doable,” he said.

ByteDance said Zhang and Liang “will work facet by facet over the next six months to make certain the smoothest doable transition.”

U.S. troubles

Management reshuffle

ByteDance has had a quantity of management changes over the past few months. Last August, Kevin Mayer who was hired from Disney to be the TikTok CEO, stepped down as rigidity from Washington grew on the social media app.

TikTok’s U.S. general manager Vanessa Pappas took over the role on an intervening time basis.

In March, Bite Shou Zi, the mature finance chief at Xiaomi, was poached by ByteDance to change into the company’s chief financial officer.

Legal last month, Bite was appointed the CEO of TikTok, taking over from Pappas, who’s now the manager operating officer.

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CEO of TikTok owner ByteDance to step down and move into a new role