The young CEO who helped make TikTok a global hit is latest Chinese tech entrepreneur to quit
May 20, 2021·00:01:00·Tap to summarize
Zhang Yiming built ByteDance into one of the biggest names in Chinese tech. Now he's stepping down as CEO at just 38 years old, becoming the latest young tech entrepreneur in China to quit while leading a company on the rise.Zhang — who founded Tiktok owner ByteDance in Beijing nine years ago — announced Wednesday that he would transition to a new role at the company at the end of this year and "focus on long-term strategy."Since the beginning of this year, I've spent a lot of time thinking about how to better drive real long-term breakthroughs," Zhang wrote in a letter to employees that the company posted publicly. He added that he made the decision after several months of thinking, and decided that leaving the "day-to-day responsibilities" behind would allow him to have "greater impact on longer term initiatives."
