Zhang Yiming, co-founder of TikTok owner ByteDance, told workers of the Chinese technologies giant in a memo that he will step down as chief executive and be succeeded by co-founder Rubo Liang, the organization disclosed on Thursday.
The move, initial reported by Reuters, represents the largest corporate shake-up at ByteDance considering that its launch in 2012. The organization grew to develop into a dominant social media force in China and turned TikTok, a quick-video app preferred with teenagers, into a worldwide sensation.
Zhang wrote in the memo that Liang, whose most current part at ByteDance was head of human sources, has been “an invaluable partner”, advancing the company’s technologies and hiring and managing individuals. He added that he would work with Liang more than the next six months to assure a smooth transition.
Zhang wrote in the memo that he concluded just after a number of months of deliberation that he would have a higher effect on ByteDance’s longer-term initiatives if he transitioned out of the CEO part.
“The truth is, I lack some of the skills that make an ideal manager. I’m more interested in analyzing organizational and market principles, and leveraging these theories to further reduce management work, rather than actually managing people,” Zhang wrote.
“Similarly, I’m not very social, preferring solitary activities like being online, reading, listening to music, and contemplating what may be possible,” he added.
Zhang’s selection to step down comes much less than a month just after ByteDance named its chief monetary officer Shouzi Chew as CEO of TikTok.
TikTok has sought to distance itself from Beijing just after the United States raised national safety issues more than the security of the private information it handles.
Former U.S. president Donald Trump’s administration sought to force ByteDance to divest manage of the app. A U.S. strategy to sell TikTok’s American operations to a consortium that integrated Oracle Corp and Walmart Inc languished, on the other hand, just after ByteDance launched thriving legal challenges.
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