A logo of TikTok (Douyin) is pictured at The Place shopping center at nightfall on August 22, 2020 in Beijing, China.
VCG | Visible China Group | Getty Photographs
GUANGZHOU, China — Zhang Yiming, co-founder of ByteDance, will step down as CEO and transition to a brand new function, the corporate mentioned on Thursday.
One other co-founder, Liang Rubo, who’s at the moment head of human sources, will take over as CEO of ByteDance globally and Zhang will transfer right into a key technique function on the finish of 2021.
“There are nonetheless many issues that we have to enhance, and I feel another person can higher drive progress by areas like improved each day administration. The reality is, I lack a number of the abilities that make a great supervisor,” Zhang mentioned in a be aware to workers.
“I am extra fascinated with analyzing organizational and market ideas, and leveraging these theories to additional cut back administration work, relatively than really managing folks. Equally, I am not very social, preferring solitary actions like being on-line, studying, listening to music, and daydreaming about what could also be attainable,” he mentioned.
ByteDance mentioned Zhang and Liang “will work aspect by aspect over the following six months to make sure the smoothest attainable transition.”
ByteDance has had quite a few administration adjustments over the previous few months. Final August, Kevin Mayer who was employed from Disney to be the TikTok CEO, stepped down as strain from Washington grew on the social media app.
TikTok’s U.S. basic supervisor Vanessa Pappas took over the function on an interim foundation.
In March, Chew Shou Zi, the previous finance chief at Xiaomi, was poached by ByteDance to change into the corporate’s chief monetary officer.
Simply final month, Chew was appointed the CEO of TikTok, taking on from Pappas, who’s now the chief working officer.