ByteDance co-founder Zhang Yiming to step down as CEO

Zhang Yiming, founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by human resource chief Liang Rubo, the company disclosed. Zhang's decision to step down comes less than a month after ByteDance named its chief financial officer Shouzi Chew as CEO of TikTok.

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