One of the most popular apps across the globe’s CEO Zhang Yiming (38) step down as CEO. He was the co-founder of ByteDance, the company that owns the video-sharing app TikTok, and is considered as one of the most successful start-up started in 2012.
"The truth is, I lack some of the skills that make an ideal manager," Zhang told employees in an internal memorandum issued on Thursday. He added: "I'm more interested in analysing organizational and market principles, and leveraging these theories to further reduce management work, rather than actually managing people."
He also said: "Similarly, I'm not very social, preferring solitary activities like being online, reading, listening to music, and contemplating what may be possible." Liang Rubo, the company's head of human resources, will take the charge next six months into ByteDance's CEO role. Zhang will continue to serve as one of the company's board members.
The popularity of TikTok has drastically grew under Zhang's leadership. He used delivered bi-monthly town hall meetings with his employees and also discouraged them from calling him "boss" or "CEO."
TikTok also face backlashes from US and India. Due to border discontentment and Chinese encroachment in Arunachal Pradesh, India banned TikTok as security threats and unduly spying on data. While Trump administration also considered the app a national security risk and alleged that it collected several data from and share to Chinese authority.