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China tech

ByteDance co-founder Zhang Yiming to hand over CEO role

Executive to focus on long-term strategy amid China's tech industry turbulence

"The truth is, I lack some of the skills that make an ideal manager," ByteDance CEO and co-founder Zhang Yiming wrote in an internal memo to employees.   © Reuters

HONG KONG -- Zhang Yiming, one of the two co-founders of the global short-video sensation TikTok, told employees on Thursday that he will step down as chief executive at the app's parent company, ByteDance, by the end of this year and hand over the role to his university classmate Liang Rubo, the other co-founder.

The 38-year-old software engineer by training said he will take up a new role, focusing on long-term strategy, corporate culture and social responsibility.

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