Liang Rubo, the human assets chief of the Chinese language know-how big, will exchange him, the corporate stated.
The transfer represents the largest company shake-up at ByteDance since its launch in 2012. The corporate grew to turn into a dominant social media pressure in China and turned TikTok, a short-video app well-liked with youngsters, into a world sensation.
Zhang will transfer to a “key technique” place on the finish of this 12 months, ByteDance stated in an announcement.
Zhang wrote within the memo that Liang, whose most up-to-date position at ByteDance was head of human assets, has been “a useful associate”, advancing the corporate’s know-how and hiring and managing individuals. He added that he would work with Liang over the following six months to make sure a easy transition.
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Zhang wrote within the memo that he concluded after a number of months of deliberation that he would have a higher affect on ByteDance’s longer-term initiatives if he transitioned out of the CEO position. “The reality is, I lack a few of the abilities that make an excellent supervisor. I am extra interested by analysing organisational and market ideas, and leveraging these theories to additional scale back administration work, reasonably than really managing individuals,” Zhang wrote.
“Equally, I am not very social, preferring solitary actions like being on-line, studying, listening to music, and considering what could also be attainable,” he stated.
Zhang’s determination to step down comes lower than a month after ByteDance named its Chief Monetary Officer Shouzi Chew as CEO of TikTok.
The short-video app has sought to distance itself from Beijing after the US raised nationwide safety considerations over the protection of the non-public information it handles.
Former US president Donald Trump’s administration sought to pressure ByteDance to divest management of the app. A US plan to promote TikTok’s American operations to a consortium that included Oracle Corp. and Walmart Inc . languished, nevertheless, after ByteDance launched profitable authorized challenges.
ByteDance, which at the moment employs greater than 100,000 individuals globally, had been making preparations for its much-anticipated preliminary publish providing (IPO) earlier this 12 months however then halted the plans in April.
The nine-year-old firm’s earlier massive organisational shake-up occurred final 12 months, when Zhang appointed Chairman Zhang Lidong and CEO Kelly Zhang at ByteDance’s China enterprise.
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