2021-06-22

4You Dialy

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Founder Bytedance and the Creator Tiktok will leave the post of Director General

2 min read

This week, the founder of the Chinese company bytedance, which developed the Tiktok service, declared his care from the post of Director General. Zhang Yiming (Zhang Yiming) will transfer the reign of the reign of his student friend Zhombo Liang (Rubo Liang), which is now responsible for the company’s personnel policy.

Image Source: Bloomberg

As Bloomberg notes with reference to the sources close to the founder, Zhang Imin decided to transfer the authority of the Director General to the Trusted Person because of the increased load, wanting to free up more time. The Chinese billionaire will remain the Chair of the BikeDance Board of Directors, but the main part of operating duties will take on his successor to Zhom Liang, with whom they are familiar with the student bench.

Zhang Imin also wants to focus on the formation of a strategy for the long-term development of Bytedance and Tiktok. In contacting employees, the company’s founder admitted that he had not reached all the goals set in front of himself in the status of the Director-General, but his departure from this post would provide him with more time to address strategic issues. Delegate the powers of Zhang Imin began last year, when he hired two managers to manage the company’s Chinese business, and this month he appointed a former Xiaomi financial director responsible for the American Business Bytedance.

Cextanance capitalization is estimated at $ 250 billion, it has already done Zhang Imina one of the richest people in the world. According to unofficial data, the company is now being prepared for US and Hong Kong public stock markets. Last year, the BikeDance revenue reached $ 35 billion, doubled in the amount of just a year. The number of active users of the Chinese analogue of Tiktok last month increased to 680 million people. The rapid growth of the business forced the company’s founder to move to delegation of authority, and now it will have more time to determine the strategic vector.

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