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China tech

ByteDance founder Zhang Yiming quits board of TikTok parent

Outgoing chairman to remain a full-time employee but without subordinates

Zhang Yiming gave up the CEO role at ByteDance in May, saying he would focus on "longer-term initiatives."   © Reuters

HONG KONG -- Zhang Yiming, the ByteDance co-founder who earlier this year stepped down as chief executive of the parent company of TikTok, has relinquished his position as chairman and left the company's board.

Liang Rubo, who succeeded Zhang as CEO in May, has now also assumed the chairmanship as management thinks "the best development model for the company is that the CEO and chairman are the same person," a person at the company familiar with the personnel shifts told Nikkei Asia.

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