ByteDance founder Zhang Yiming to step down as CEO by end of 2021 – TechCrunch

Zhang Yiming, the storied co-founder of ByteDance, is stepping down from his position because the CEO and passing the torch to Liang Rubo, one other co-founder of the TikTok mum or dad and one of many world’s most dear web juggernauts.

In an internal letter to workers, 38-year-old age Zhang mentioned he’s making the transition to spend extra time on “long-term technique, company tradition, and social accountability.”

Zhang will work aspect by aspect with Liang, presently ByteDance’s head of human sources and his school classmate, over the subsequent six months to make sure a easy transition. Zhang will stay as a member of the board at ByteDance.

From the sound of the letter, Zhang reminisces concerning the interval between school and beginning ByteDance in 2012 when he spent ample time fascinated with the long run. That led him to conclude that machine studying would revolutionize the best way folks encountered info and the thought laid the muse for ByteDance’s algorithm-driven content material distributors equivalent to Toutiao and TikTok. However performing as a CEO, he mentioned, he was preoccupied with “listening to displays, dealing with approvals, and making selections reactively.”

“Innovation and success are rooted in years of exploring and imagining what is feasible. Nevertheless, few folks have actual perception into the long run, preferring to mannequin on present and previous achievements,” the founder wrote, citing American tech giants as position fashions.

“Individuals are amazed by the success of electrical automobiles, however they neglect that Tesla is 18 years previous and first experimented with laptop computer batteries to energy its automobiles. Individuals learn about Apple’s software program administration software HomeBrew, however few notice that pc geeks had been discussing the Apple I within the HomeBrew Membership within the 1970s.”

Zhang additionally acknowledged that he’s not the perfect supervisor sort, saying he’s “extra involved in analyzing organizational and market rules, and leveraging these theories to additional scale back administration work, reasonably than truly managing folks.”

“Equally, I’m not very social, preferring solitary actions like being on-line, studying, listening to music, and daydreaming about what could also be potential.”

Liang seems to be a greater match for carrying the CEO hat for his expertise main R&D and Lark, which began as an inner work collaboration software and later developed right into a full-flung SaaS product offered to different enterprises.

One other high-profile Chinese language tech boss who just lately resigned from day-to-day operations was Colin Huang, founding father of Alibaba’s arch rival Pinduoduo. Huang took a step again so he might allocate his power to meals and life sciences, areas that the e-commerce agency hopes might gasoline its future development.