One of the co-founders of TikTok, Zhang Yiming is stepping down at just 38years old as CEO of ByteDance, the Chinese company that owns TikTok.
Zhang Yiming said Thursday, May 20, that he will leave the role because he lacks managerial skills. He added that he preferred “reading and daydreaming” to running the tech giant.
“Since the beginning of this year, I’ve spent a lot of time thinking about how to better drive real long-term breakthroughs,” Zhang wrote in a letter to employees that the company posted publicly. He added that he made the decision after several months of thinking, and decided that leaving the “day-to-day responsibilities” behind would allow him to have “greater impact on longer term initiatives.”
“The truth is, I lack some of the skills that make an ideal manager,” he said. “I’m not very social, preferring solitary activities like being online, reading, listening to music, and daydreaming about what may be possible.”
According to Bloomberg, he resigns with a net worth of $44.5billion, making him 31st on a list of the world’s richest people.
Liang Rubo, ByteDance co-founder and head of human resources, will succeed Zhang as CEO.