In a memo sent by Zhang Yiming to employees of ByteDance, the founder and CEO revealed that he will step down from his position as CEO. The Chinese technology company has disclosed that he will be replaced by the Human Resource Chief Liang Rubo. The company announced in a statement that Zhang Yiming will be moving to a “key strategy” position this year.
In the memo he wrote, Zhang Yiming described Liang Rubo, the Head of Human Resources as “an invaluable partner”, and said that Liang Rubo has played the role of advancing the company by hiring and managing people very well. He also mentioned that he would be working with his successor over the next six months so that a smooth transition would take place.
According to Zhang Yiming, his decision to step down as CEO after months of careful deliberation and weighing the impact that his decision will have on the company in the long run. “The truth is, I lack some of the skills that make an ideal manager. I’m more interested in analysing organizational and market principles, and leveraging these theories to further reduce management work, rather than actually managing people”, he said.
He also revealed that his decision to step down will help the company transition to greater heights and implied that Liang Rubo was a better fit for the position of CEO. “Similarly, I’m not very social, preferring solitary activities like being online, reading listening to music, and contemplating what may be possible”, he added.
Zhang Yiming’s decision to step down from the position of CEO comes not too long after its subsidiary company TikTok announced ByteDance’s Chief Financial Officer Shouzi Chew as new CEO, and described it as a strategic appointment.
ByteDance was founded in 2012 and has risen to be one of the top technology companies to reckon with.