05-20-2021, 12:06 PM
- Zhang Yiming, co-founder of ByteDance, will step down as CEO and transition to a new role, the company said on Thursday.
- Another co-founder, Liang Rubo, who is currently head of human resources, will take over as CEO of ByteDance globally.
- The move comes after a tumultuous nine months for ByteDance after it was dubbed a national security threat by former President Donald Trump’s administration last August.
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GUANGZHOU, China — Zhang Yiming, co-founder of ByteDance, will step down as CEO and transition to a new role, the company said on Thursday.
Another co-founder, Liang Rubo, who is currently head of human resources, will take over as CEO of ByteDance globally and Zhang will move into a key strategy role at the end of 2021.
“There are still many things that we need to improve, and I think someone else can better drive progress through areas like improved daily management. The truth is, I lack some of the skills that make an ideal manager,” Zhang said in a note to employees.
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