Zhang Yiming announced he will step down as CEO of TikTok-owner ByteDance, saying he lacked the social skills to be an ideal manager and naming his college roommate Liang Rubo as his successor to navigate a rising tide of Big Tech regulations.
In a surprise announcement to employees on Thursday, first reported by Reuters and later disclosed by the company, Zhang said the change would enable him “to have greater impact on longer-term initiatives.” He will move to a “key strategy” position at the end of the year, ByteDance said.
