Zhang Yiming has announced that he is stepping down from his role as ByteDance’s CEO, after major success with TikTok.
Zhang who co-founded ByteDance in 2012, will now move to another position at the company to allow fellow co-founder, Liang Rubo, who presently runs HR, to become the new CEO.
In a lengthy internal letter that ByteDance later made public, Zhang reflected on his position and how he feels he’d be more effective in another role.
“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 management. The truth is, I lack some of the skills that make an ideal manager.
“I’m more interested in analyzing organizational and market principles, and leveraging these theories to further reduce management work, rather than actually managing people. Similarly, I’m not very social, preferring solitary activities like being online, reading, listening to music, and daydreaming about what may be possible,” Zhang said.
The transition will take place over the next six months, while Zhang’s new role will focus on “long-term strategy, corporate culture, and social responsibility,” according to the company.
The announcement heralds a major change for ByteDance’s corporate leadership, but it shouldn’t affect the day-to-day operations of TikTok too much.
Last month ByteDance announced that former Xiaomi CFO Chew Shouzi would assume the role of dedicated TikTok CEO after having hired him in March to take over as CFO of the parent company. Chew took over from Vanessa Pappas, who was running the company on an interim basis after former Disney executive, Kevin Mayer left the role less than four months into his tenure. Mayer’s decision was because of the social network’s political difficulties in the US at the time.
