The CEO and co-founder of TikTok’s owner ByteDance, has announced he will step down and transition to a new role by the end of the year.
Zhang Yiming said he will be succeeded by fellow co-founder Rubo Liang. The move marks the biggest shake-up at the Chinese technology giant since its launch almost a decade ago.
TikTok’s popularity has helped it become a global sensation but has also drawn scrutiny.
Zhang said his successor has been an invaluable partner, developing the firm’s technology as well as hiring and managing employees.
Formed in 2012, Beijing-based ByteDance created the global smash-hit app TikTok, which has an estimated 700 million active monthly users.
Its massive popularity has meant it has been scrutinised by governments around the world, including in America and China.
