Reuters first to report ByteDance founder to handover CEO reins

Reuters was first to report Zhang Yiming, the co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in an internal memo that he was stepping down as chief executive, to be succeeded by co-founder Rubo Liang. The move represents the biggest corporate shake-up since the 2012 launch of ByteDance, which became a social media force in China and turned TikTok, a short-video app popular with teenagers, into a global sensation.