ByteDance Co-Founder Zhang Yiming to step down as CEO; Rubo Liang to succeed
The move represents the biggest corporate shake-up at ByteDance since its launch in 2012. ByteDance grew to become a dominant social media force in China and turned TikTok, a short-video app popular with teenagers, into a global sensation
- May 20, 2021,
- Updated May 20, 2021 8:47 AM IST
Zhang Yiming, co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by co-founder Rubo Liang, the company disclosed on Thursday.
The move, first reported by Reuters, represents the biggest corporate shake-up at ByteDance since its launch in 2012. The company grew to become a dominant social media force in China and turned TikTok, a short-video app popular with teenagers, into a global sensation.
Zhang wrote in the memo that Liang, whose most recent role at ByteDance was head of human resources, has been "an invaluable partner", advancing the company's technology and hiring and managing people. He added that he would work with Liang over the next six months to ensure a smooth transition.
Zhang wrote in the memo that he concluded after several months of deliberation that he would have a greater impact on ByteDance's longer-term initiatives if he transitioned out of the CEO role.
Zhang Yiming, co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by co-founder Rubo Liang, the company disclosed on Thursday.
The move, first reported by Reuters, represents the biggest corporate shake-up at ByteDance since its launch in 2012. The company grew to become a dominant social media force in China and turned TikTok, a short-video app popular with teenagers, into a global sensation.
Zhang wrote in the memo that Liang, whose most recent role at ByteDance was head of human resources, has been "an invaluable partner", advancing the company's technology and hiring and managing people. He added that he would work with Liang over the next six months to ensure a smooth transition.
Zhang wrote in the memo that he concluded after several months of deliberation that he would have a greater impact on ByteDance's longer-term initiatives if he transitioned out of the CEO role.