ByteDance founder Zhang Yiming has stepped down as chairman of the TikTok owner, after saying in May he would step down as CEO, a person with direct knowledge of the matter told Reuters, in the latest shake up at the tech giant.
New CEO Liang Rubo has taken over as chairman of the company’s five-person board, which also includes General Atlantic, Sequoia Capital, Coatue Management, and Susquehanna International Group, the person said, adding that the decision was made this year.
