CEO of TikTok’s Parent Company Resigns

Zhang Yiming, CEO and co-founder of ByteDance, TikTok's parent firm, has announced he will retire from the company role and assume another role later this year.

This news was revealed recently on the website of the group where Yiming shows himself to lack the expertise needed to lead the company. His co-founder Rubo Liang will succeed him.

The message of Yiming reads on the website,

The reality is that I do not have certain skills which make me the perfect manager. I would like to analyse operational and business values and use them to help minimise management work rather than handle individuals. I'm not very friendly, like reading, listening, thinking what could be likely, preferring lonely things like online.

He says Liang was "an invaluable ally" and played a firsthand role in the technology growth and in the recruitment and management of the company staff. Thus, he would be a perfect ByteDance leader. Liang headed up the Human Resources branch of the firm until now.

This move will mark the largest structural change for the organization since it was launched nearly a decade ago. There would also be a move to achieve a smooth transition over the next six months.

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