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.
