Zhang Yiming, one of the Co-founders of popular social media platform, TikTok, has stepped down from his position as the CEO of ByteDance, the Chinese Company that owns the platform.
Yiming, 38, said on Thursday, May 29 that he will leave the role because he lacks managerial skills.
The CEO resigns with a net worth of $44.5 billion according to Bloomberg which places him on the list of the World’s richest people.
On Monday, Nay 25, Zhang announced his resignation in an official letter to his employees. He stated that he lacks some skills that had make him an ideal manager.
“The truth is I lack some of the skills that make an ideal manager. Similarly, in not very social, preferring solitary activities like being online, reading, listening to music and day dreaming about what may be possible”.
Yiming is expected to resign fully at the end of the year to focus on long term strategy.