Another leader of the technology giant announced that he is coming down from the top after Bill Gates, Jack Ma and Jeff Bezos. Chinese billionaire Zhang Yiming, who is among the richest people in China, will step down as CEO of the company he founded, ByteDance, by the end of the year, world agencies reported.
ByteDance is the owner of the popular video sharing network TikTok.
The management position will be taken over by Liang Jubo, who is currently in charge of human resources in the company.
The partners intend to work closely together in the coming months to “ensure the smoothest possible transition,” the businessman said in a statement.
And more from the statement mu:
“Innovation and success are rooted in years of research and demonstration of what is possible. However, few people have a real idea of the future, preferring to model current and past achievements. People are amazed at the success of electric cars, but forget that Tesla is 18 years ago and first experimented with laptop batteries to power their vehicles.People know about Apple’s HomeBrew software management tool, but few realize that computer geeks discussed Apple I at the HomeBrew Club in the 1970s. reality, the science of life and scientific calculations play a greater role in people’s lives as technology has an increasing impact on society. This type of progress requires us to break the momentum and continue to explore. “
Programmer Zhang Yiming founded ByteDance in 2012 with headquarters in Beijing. He cited the desire to “focus on long-term strategy, corporate culture and social responsibility” as the reason for his resignation.
“Honestly, I lack some habits that create the perfect manager,” he admits.
“I am more interested in the analysis of organizational and market principles and the use of these theories to further reduce management work, rather than the actual management of people,” added the businessman.
And from Zhang’s statement, from his motives to come down from the top …
“Three years ago, I talked to some entrepreneurs about the challenges of business. I said that often when companies mature and grow, many of them fall into the trap of being too central to the CEO – listening to presentations, processing approvals. and decision-making reactively. This leads to over-reliance on existing ideas that are already imposed on the company and leads to slow iterations of knowledge structures. “
According to Huzhong magazine (the Chinese analogue of the American magazine Forbes), the personal wealth of 38-year-old Zhang is over 50 billion dollars. And Forbes to date assesses the condition to $ 36 billion.
BBC (BBC) noted that Zhang’s withdrawal marks the biggest shake-up of Chinese technology giant ByteDance since its launch almost a decade ago. TikTok’s popularity has helped him become a global sensation, but it is also under control.
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Photo: Getty Images
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TikTok captivated by its popularity
Governments around the world have followed the growing popularity of the platform, including those in the United States and China. During his presidency, Donald Trump regularly attacked ByteDance, accusing TikTok of threatening US national security. Politicians and various authorities have expressed concern about the transfer of personal data to Chinese government users. TikTok has denied allegations that it shares user data.
ByteDance is one of 13 online platforms that last month called on Chinese supervisors to adhere to stricter regulations in their financial divisions as part of broader pressure to control technology companies. Beijing has long encouraged the development of technology companies, but at the same time has tightened official control over their platforms as they have branched out into offering financial services.
“Internet platforms have played an important role in improving the efficiency of financial services and expanding access to financial services for more people,” the Chinese National Bank said in a statement. “At the same time, some financial services were performed without licenses and serious breaches of the rules were committed in areas such as regulatory arbitrage, competition and consumer protection,” it added.
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