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ByteDance Founder Zhang Yiming Steps Down As Chairman


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New CEO Liang Rubo to become chairman as group rejigs its business, source reveals. Zhang announced his resignation as chief executive in May.


ByteDance chairman Zhang Yiming
ByteDance chairman Zhang Yiming. Photo: Reuters

 

ByteDance founder Zhang Yiming has stepped down as chairman of the group, which owns TikTok, after announcing his resignation as chief executive officer in May, a person with direct knowledge of the matter told Reuters.

New CEO Liang Rubo will take on the role of chairman, the person added.

ByteDance did not immediately respond to a request to comment.

On Tuesday, Liang announced a major organisational restructuring at ByteDance by creating six business units: TikTok and its Chinese version Douyin, work collaboration unit Lark, business services unit BytePlus, gaming unit Nuverse, and education tech unit Dali Education.

Liang also said TikTok CEO Shou Zi Chew will step down as chief financial officer (CFO) of the parent company ByteDance to focus on running the short video platform full time.

Chew joined ByteDance as CFO in March and was appointed as TikTok CEO in May.

 

  • Reuters with additional editing by Jim Pollard

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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