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Zhang, certainly one of Chinaโs
most successful entrepreneurs, has exited the board of TikTokโs proprietor, and is succeeded by Rubo Liang, ByteDanceโs present CEO, the individual mentioned.
The information wasnโt a whole shock. Earlier this 12 months, Zhang had
announced that he could be leaving the CEO place, citing a need to step away from each day administration. Liang, his fellow ByteDance co-founder who on the time served as head of human sources, started to transition into the position.
However Zhang had
indicated he would depart his place solely โon the finish of 2021,โ with out referencing plans to additionally depart the board.
ByteDance declined to remark.
In response to the individual near the matter, Zhang will keep on with the corporate in some capability, however focus extra on long-term technique. Particulars should not but clear about his precise new position, the individual added.
The change comes as ByteDance works to restructure its operations extra broadly.
On Tuesday, the Beijing-based agency introduced to staff that it could arrange six enterprise models, together with TikTok, its sister platform Douyin, a line of training merchandise, a gaming subsidiary, and two enterprise service divisions.
In a memo, Liang additionally informed staff that Chief Monetary Officer Shouzi Chew would step down from his present position to dedicate his time solely to TikTok. Chew
joined the company earlier this 12 months and
was appointed TikTok CEO in April.
Zhangโs newest departure provides to an ongoing management reshuffle of Chinese language tech companies in current months.
Final week, Kuaishou, the Chinese language quick video-sharing app that is often called a well-liked different to TikTok and Douyin,
announced that co-founder Su Hua had stepped down as CEO, whereas staying on as chairman of the board.
Suโs fellow co-founder, Cheng Yixiao, was appointed chief govt.
In September, e-commerce big
JD.com (JD) additionally mentioned that billionaire CEO Richard Liu would shift a few of his focus to long-term technique as the corporate took on a brand new president to assist handle its each day affairs.
And
Pinduoduo (PDD) founder Colin Huang mentioned in March that he would resign as chairman of the upstart e-commerce firm he created, which competes with the likes of
Alibaba (BABA). Huang had already left his place as CEO final summer season.
โ Lauren Lau contributed to this report.
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