TikTok owner ByteDance’s CEO stepping down

The CEO of ByteDance, the owner of the insanely in style social media app TikTok, has introduced he’s stepping down from his function of chief government officer, reports CNBC. Zhang Yiming, who cofounded ByteDance in 2012, will stay in his present function for the following six months as the corporate transitions its management to the brand new CEO, Liang Rubo, one other cofounder of ByteDance.

“There are nonetheless many issues that we have to enhance, and I believe another person can higher drive progress by way of areas like improved every day administration. The reality is, I lack a number of the expertise that make a really perfect supervisor,” Zhang instructed workers when he introduced his resignation as CEO. “I’m extra interested by analyzing organizational and market ideas, and leveraging these theories to additional scale back administration work, relatively than really managing individuals. Equally, I’m not very social, preferring solitary actions like being on-line, studying, listening to music, and daydreaming about what could also be doable.”

Within the 9 years since ByteDance was based, the corporate has achieved what many within the tech trade as soon as considered as unimaginable: dethroning Fb because the king of social media. In 2021, TikTok (and its Chinese language twin Douyin) is the place all of the cool children are at now—Fb is for his or her lame dad and mom and grandparents. The feat is all of the extra spectacular contemplating TikTok/Douyin was solely launched by ByteDance lower than 5 years in the past.

As for ByteDance’s incoming CEO, Liang has been with the corporate since he cofounded it alongside Zhang in 2012. Liang is the present head of human sources at ByteDance and can assume the function of CEO by November. ByteDance says the outgoing and incoming CEOs “will work aspect by aspect over the following six months to make sure the smoothest doable transition.”