The founder of Tik Tok’s parent company will resign as CEO

The founder of Tik Tok's parent company will resign as CEO

Zhang Yiming led Byte Dennis to become a truly successful global internet company in China.

The founder of Tik Tok's parent company will resign as CEO.
Tik Tok CEO Zhang Yiming led Byte Dennis to become a truly successful global internet company in China.

Zhang Yeming, founder and CEO of Dance Cutting in Palo Alto, California, last year.
Last year's Bite Dance Founder and CEO in Palo Alto, California Credit to Zhang Yeming.

According to yiming:

"The truth is, I lack some of the skills that make an ideal manager. I’m more interested in analyzing organizational and market principles and leveraging these theories to further reduce management work, rather than actually managing people. Similarly, I’m not very social, preferring solitary activities like being online, reading, listening to music, and contemplating what may be possible".

He wrote that Zhang Yimang, who helped set up China's parent company Tik Tok and made it an Internet company around the world, would step down s chief executive to focus on long-term strategy. Employees on Wednesday.

Mr. Zhang's co-founder and head of human resources, Liang Robo, will be the executive director of parent company Byte Dennis, which owns several other entertainment programs and web platforms in China and other countries.

“When I retire as chief executive and move away from day-to-day management responsibilities, I find a place to explore long-term strategy, organizational culture and social responsibility, with a more objective approach to the company. will do." Zhang said

The letter, published by Byte Dance on its website, also did not address whether the transfer of leadership would affect Mr Zhang's role as the company's president. Bite Dance representatives did not immediately respond to requests for comment.

Mr Zhang, 38, is resigning on a daily basis as the Chinese government tightens its grip on large companies such as Byte Dennis, signaling that it will try to keep other technology leaders at a lower level.

Bite Dance, founded in 2012, is the first global Internet company based in China. Through Tik Tok, it has achieved a level of commercial success and cultural influence that no other technology plant in the country operates outside of China.

But the success has also put pressure on Byte Dennis with global governments, which are concerned about China's growing high-tech capabilities and the often confusing ways in which large private businesses are allowed to stay in business.

Earlier, India, one of the largest tick markets, banned the video app citing national security concerns. Under President Donald J. Trump, the White House has threatened to do the same, although judicial challenges have thwarted the plan.

Bite Dance and Tik Tok

Bite Dance and Tik Tok CEO Mr. Zhang discussed the sale of Tik Tok with Oracle and other sweaters to allay US government concerns about the app's Chinese ownership. There was no such sale.

Near Bidens, Chinese officials have carefully analyzed the country's heavy Internet trade practices. Last month, regulators listed 34 big names in the industry - including byte dance. To make "national interest" a top priority and to enforce strict rules to ensure fair competition and consumer protection. He also fined e-commerce company Alibaba بنانے 2.8 billion for monopolizing it.

Increasing regulatory pressure is trying to prevent some Internet officials from paying extra attention to them. Another, Jack Ma, is Alibaba's billionaire co-founder and one of China's most famous businessmen.

Mr Ma resigned as Alibaba's chief executive in 2013 - Also, according to the company, to focus on a larger strategic direction. He remained Alibaba's chief executive until 2019. But even in retirement, he remains the company's most recognizable face.

Regulators had summoned the last executives of Mr Ant and Alibaba's sister Fantic company Ant Group last fall before ordering the ant's planned initial public offering. Mr. MA is a majority shareholder of Shivant and aims to significantly increase his wealth by selling shares.

Chinese financial regulators later ordered Ant to reconsider its business to allay concerns about the exploitation of the regulatory gulf. Mr. Ma has rarely been in public.

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