Bytedance boss exits at time of uncertainty for Chinese tech firms
by Vincent Ni China affairs correspondent from Technology | The Guardian on (#5J3FS)
Analysis: political undercurrents cannot be ignored as Zhang Yiming stands down to daydream'
In the latest retreat by a leading figure in China's booming tech sector, the chief executive of TikTok's parent company has said he will step down to focus on long-term strategy, saying he prefers reading and daydreaming" to the challenge of running a multinational firm.
Zhang Yiming, the 38-year-old boss of Bytedance, set out the reasons for the move in an unusually candid memo addressed to the company's staff. The truth is, I lack some of the skills that make an ideal manager," he confessed.
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