ByteDance CEO Zhang Yiming to step down, transition to new position
GUANGZHOU, China — Zhang Yiming, co-founder of ByteDance, will step down as CEO and transition to a brand new position, the corporate mentioned on Thursday.
One other co-founder, Liang Rubo, who’s at present head of human sources, will take over as CEO of ByteDance globally and Zhang will transfer right into a key technique position on the finish of 2021.
“There are nonetheless many issues that we have to enhance, and I believe another person can higher drive progress via areas like improved every day administration. The reality is, I lack a number of the expertise that make a perfect supervisor,” Zhang mentioned in a notice to staff.
“I am extra interested by analyzing organizational and market rules, and leveraging these theories to additional scale back administration work, moderately than truly managing individuals. Equally, I am not very social, preferring solitary actions like being on-line, studying, listening to music, and daydreaming about what could also be potential,” he mentioned.
ByteDance mentioned Zhang and Liang “will work aspect by aspect over the subsequent six months to make sure the smoothest potential transition.”
ByteDance has had various administration modifications over the previous few months. Final August, Kevin Mayer who was employed from Disney to be the TikTok CEO, stepped down as strain from Washington grew on the social media app.
TikTok’s U.S. normal supervisor Vanessa Pappas took over the position on an interim foundation.
In March, Chew Shou Zi, the previous finance chief at Xiaomi, was poached by ByteDance to develop into the corporate’s chief monetary officer.
Simply final month, Chew was appointed the CEO of TikTok, taking on from Pappas, who’s now the chief working officer.
Stocks Steady as China Sours Mood; Dollar Dips: Markets Wrap
(Bloomberg) — Asian stocks traded mixed Monday as investors assess the impact of China’s Covid policies on growth and the…
Third possible case of monkeypox found in the U.S By Reuters
© Reuters. FILE PHOTO: An electron microscopic (EM) image shows mature, oval-shaped monkeypox virus particles as well as crescents and…