Economy
World / Countries / MNCs ByteDance Founder Zhang exits company's board
Just Earth News | @justearthnews | 03 Nov 2021, 05:42 am Print
ByteDance Image: Wikimedia Commons
ByteDance Ltd.’s billionaire founder Zhang Yiming has stepped down as the chairman of the company, media reports said.
He took the step just months after resigning as chief executive officer of the TikTok owner.
New CEO Liang Rubo has replaced Zhang on the five-member board that also includes representatives from investors Susquehanna International Group and Sequoia Capital China, according to a person familiar with the matter, reports Bloomsberg.
Zhang, 38, will still be involved in formulating the Chinese tech firm’s longer-term strategy, the person told the news portal, asking to not be identified discussing private matters.
More Economy
- PwC to fire 1800 jobs in first major layoffs announced in 15 years
- New ILO report shows global youth unemployment rate dropped to 15-year low in 2023
- American aircraft manufacturer Boeing to plead guilty to criminal charge
- As AI transforms the world, more universities teach the technology
- Global foreign investment declines for second year as geopolitical tensions rise, UN trade body reports
