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TikTok owner ByteDance's chairman Zhang Yiming to step down - reports

ByteDance recently announced a reorganisation to create six business units

ByteDance founder Zhang Yiming is stepping down from his role as chairman of the TikTok owner, according to news reports.

Zhang resigned as chief executive of ByteDance in May this year and said he would transition to a strategy role.

ByteDance co-founder and HR head Liang Rubo was then appointed CEO. He has now also taken up the role of chairman, Reuters reported.

The news comes after ByteDance earlier this week announced a reorganisation to create six business units to focus on different areas from gaming to enterprise software.

It also said TikTok CEO Shou Zi Chew would step down as ByteDance's chief financial officer in order to run the short video platform full time.

In recent months, a number of Chinese companies have announced reshuffles in which founders have stepped back from their day-to-day duties. The changes have come amid a clampdown on businesses by Chinese regulators.

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