Byte Dance co-founder Zhang Yiming to step down as CEO

NEW DELHI: Byte Dance's founder Zhang Yiming has announced that he will step down as the chief executive officer (CEO) and will hand over the reins to co-founder and HR head Liang Rubo.

In an internal letter on Wednesday, Yiming said he will transition to a new role at the end of 2021, focusing on long-term strategy, corporate culture and social responsibility.

"After several months of thinking about this, I came to the conclusion that transitioning out of the role of CEO, with all of the related day-to-day responsibilities, would enable me to have a greater impact on longer-term initiatives," Yiming said in the letter. (IANS)

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