ByteDance CEO Zhang Yiming wrote in a memo to his colleagues that he will step down as a CEO. He named HR Chief Liang Rubo as his successor, while Yiming moves to a “key strategy” position by the end of 2021. Yiming, in the memo, said he was more interested in analyzing organizational and marketing principles to use them to cut management stress than managing real people. ByteDance employs over 100,000 people globally and recognized as a global social media force.