Zhang Yiming, the founder of TikTok owner ByteDance, told employees of the Chinese tech giant in a memo that he will step down as CEO and be replaced by Liang Lubo, head of human resources.
This is the move reported by Reuters for the first time, and it is the largest corporate reorganization of ByteDance since its establishment in 2012. The company has gradually become a major social media force in China and has turned TikTok, a short video app popular among teenagers, into teenagers. Global sensation.
ByteDance said in a statement that Zhang will be promoted to a “key strategy” position at the end of this year.
Zhang wrote in the memo that Mr. Liang, who served as the head of human resources at ByteDance, has always been a “valuable partner” and has played an important role in promoting the company’s technological development and hiring and managing personnel. He added that for the next six months, he will work with Liang to ensure a smooth transition.
Zhang wrote in the memo that he concluded after months of deliberation that if he quit the CEO position, it would have a greater impact on ByteDance’s long-term plans.
Zhang said: “The truth is that I lack some of the skills to become an ideal manager. I am more interested in analyzing organizational and market principles and using these theories to further reduce management work rather than actually managing people.”
He added: “Similarly, I am not very social, I like to be online, reading, listening to music and thinking about possible solitary activities.”
Less than a month after ByteDance appointed its chief financial officer Shouzi Chew as TikTok’s chief executive officer, Zhang decided to withdraw.
After the United States raised national security concerns about the security of the personal data it processes, TikTok tried to distance itself from Beijing.
The administration of former US President Donald Trump tried to force ByteDance to give up control of the app. After ByteDance launched a successful legal challenge, the United States plans to sell TikTok’s business in the United States to a consortium including Oracle and Walmart.
ByteDance currently has more than 100,000 employees worldwide and has been preparing for the highly anticipated initial public offering (IPO) earlier this year, but then suspended its IPO plan in April.
The previous large-scale reorganization of the 9-year-old company occurred last year when Zhang appointed Chairman Zhang Lidong and CEO Zhang Huilin in ByteDance’s China business.
Thomson Reuters 2021 ©