ByteDance founder Zhang Yiming will step down as chief executive of the group behind popular video app TikTok, in the latest retreat from the limelight by a Chinese tech leader as Beijing cracks down on the industry.
Zhang, 38, founded ByteDance almost a decade ago, pushing the Beijing-based group to spin out a slew of hit apps including TikTok and sister Chinese platform Douyin. He also steered the company through a period of US-China tensions.
ByteDance said Zhang would step down as chief executive at the end of the year, and would be replaced by co-founder and head of human resources Liang Rubo.
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