Founder of TikTok owner ByteDance steps down as chairman as Chinese tech execs quit day-to-day roles

GUANGZHOU, China —ByteDance founder Zhang Yiming has resigned as the company’s president as the company continues to organize its business, an expert said.

ByteDance is TikTok, the most popular video program.

Zhang announced his appointment as CEO of ByteDance in May and said he will continue with plans to do so this year.

Liang Garbage, the former CEO, will chair.

ByteDance declined to be named.

The move follows a major ByteDance program this week. Shou Zi Chew, who joined as Xiaomi’s smartphone CFO in March, will resign as a financial manager to fully view his upcoming job as TikTok CEO.

The Beijing office has also built six business-specific areas from sports to development programs.

When Zhang announced his plans to resign as Chief of Staff, he wrote in a letter to staff that he believed one could “make great strides in areas such as development. Daily governance.”

“Of course, you don’t have the skills to be a great manager,” he said at the time.

ByteDance launched a series of political battles last year when President Donald Trump’s regime called the company a threat to national security and tried to force them to begin their U.S. operations. That didn’t happen in the end.

The restructuring of ByteDance follows the transformation of Chinese companies that have abandoned their founders in their day-to-day operations.

Last week, Su Hua, the former founder of TikTok, Kuaishou, resigned as General Manager but remained in office. And in September, Richard Liu, founder of e-commerce giant JD.com, quit his day job to take care of the company’s long-term plan.

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