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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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…