KOLKATA: Chinese giant ByteDance's founder Zhang Yiming has decided to step down as chief executive and move into a key strategy role at the end of 2021. The company which owns the short video platform TikTok will now be led by it's co-founder and head of human resources Liang Rubo.

Yiming wrote in a letter that he would have a better impact on ByteDance if he moved out of his current CEO position. He also noted how Rubo has played a key role in advancing the company's technology and hiring and managing people.

"The truth is, that I lack some of the skills that make an ideal manager. I'm more interested in analyzing organizational and market principles, and leveraging these theories to further reduce management work, rather than actually managing people," he wrote.

He expressed his interest in analysing organizational and market principles, and leveraging these theories to further reduce management work, rather than actually managing people. “Similarly, I’m not very social, preferring solitary activities like being online, reading, listening to music, and daydreaming about what may be possible,” he added.

This is the biggest corporate shakeup of the company after the appointment of chairman Zhang Lidong and chief executive Kelly Zhang at its China business. Yiming will work side by side with Rubo over the next six months for a smooth transition.