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ByteDance founder Zhang Yiming steps down as chairman following company reshuffle

ByteDance founder Zhang Yiming steps down as chairman following company reshuffle

On Tuesday, ByteDance Ltd's new CEO Liang Rubo announced a major organisational reshuffle at the company by creating six business units.

ByteDance founder Zhang Yiming ByteDance founder Zhang Yiming

ByteDance founder Zhang Yiming has stepped down as chairman of the TikTok owner, after announcing his resignation as chief executive officer in May, a person with direct knowledge of the matter told Reuters.

New CEO Liang Rubo will take on the role of chairman, the person added. ByteDance did not immediately respond to a request to comment.

On Tuesday, Liang announced a major organisational reshuffle at ByteDance by creating six business units: TikTok and its Chinese version Douyin, work collaboration unit Lark, business services unit BytePlus, gaming unit Nuverse, and education tech unit Dali Education.

Liang also said TikTok CEO Shou Zi Chew will step down as its parent ByteDance's chief financial officer (CFO) to focus on running the short video platform full time.

Chew joined ByteDance as CFO in March and was appointed as TikTok CEO in May.

Published on: Nov 03, 2021, 10:40 AM IST
Posted by: Mehak Agarwal, Nov 03, 2021, 10:37 AM IST