ByteDance’s CEO has announced he’s stepping down from his role leading the company whose success with TikTok led it to become the world’s most valuable startup. Zhang Yiming, who co-founded ByteDance in 2012, will move to another position at the company, and fellow co-founder Liang Rubo will become the new CEO. Liang presently runs HR at ByteDance.
In a lengthy internal letter that ByteDance later made public, Zhang ruminated on his position and how he feels he’d be more effective in another role. Zhang says “I worry I am still relying too much on the ideas I had before starting the company, and haven’t challenged myself by updating those concepts.”
“I think someone else can better drive progress through areas like improved daily...
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Founder of TikTok owner ByteDance resigns as CEO
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May 19, 2021
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