Founder of TikTok’s Chinese Owner Stepping Down As CEO

Zhang founded ByteDance in 2012. Its first short-video platform, Douyin, was launched in 2016. TikTok was launched outside China the following year.

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FILE - In this Sept. 28, 2020, file photo, the TikTok app logo appears in Tokyo. The founder of TikTok’s Chinese owner said Thursday, May 20, 2021, he will give up his job as CEO to focus on longer-term initiatives, a step that comes amid uncertainty over whether the Biden administration will force the sale of the popular short video service’s U.S. arm. (AP Photo/Kiichiro Sato, File)
Image via AP Photo/Kiichiro Sato

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

BEIJING (AP) — The founder of TikTok’s Chinese owner said Thursday he will give up his job as CEO to focus on longer-term initiatives, a step that comes amid uncertainty over whether the Biden administration will force the sale of the popular short video service’s U.S. arm. Zhang Yiming said Liang Rubo, a co-founder, will succeed him as ByteDance Ltd. CEO. Zhang said leaving day-to-day management will “enable me to have greater impact on longer-term…

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