The Boss Of TikTok Owner Chooses To Resign So You Can Daydream And Relax

CEO and Founder of ByteDance Zhang Yiming (Vulcanpost)

JAKARTA - ByteDance's CEO and Founder Zhang Yiming has decided to resign from his position. The decision was announced when TikTok's parent company was experiencing rapid growth.

Zhang himself is known as the key figure behind the success of TikTok and ByteDance. As for the reason, Zhang resigned because he was not good at socializing or managerial skills to handle his position.

Whereas with his current position, Zhang has pocketed a wealth of up to 44 billion US dollars or around Rp629 trillion rupiah. Even the company, which was founded in 2012, has a value of more than US$400 billion or Rp5,720 trillion.

"I am more interested in analyzing organizational and market principles, and utilizing these theories to reduce management work, than actually managing people," Zhang said in an internal company memo.

Zhang Yiming, founder of TikTok owner ByteDance, gears up for the global stage https://t.co/Xc81Qiz2fl pic.twitter.com/SJddYQ8ssK

— Reuters (@Reuters) March 13, 2020

In addition, Zhang also revealed that this decision will allow him to have enough time to relax. He mentioned some of them such as reading and daydreaming, as summarized from The New York Times.

"I'm not very social, preferring solitary activities like going online, reading, listening to music, and contemplating what might be done."

The decision to leave his job responsibilities had been pondered over the past few months. He will pass the baton as CEO to Liang Rubo, who is a co-founder of ByteDance.

As he stated in the letter, the change in leadership did not just happen. It will take at least the next six months to smooth the transition.

Don't want to be like Jack Ma

Much speculation that accompanied the decision of Zhang Yiming in resigning from ByteDance boss, parent company TikTok. There are allegations that he does not want to be like Jack Ma.

Considering that Zhang's decision to resign coincided with the Chinese government's increasing scrutiny of large companies in his country. As is known, after criticizing the Chinese government's financial system, Jack Ma seemed to have disappeared from public view and his companies, Alibaba and Ant Financial.

"Regulations for Chinese technology companies have changed and require a lot of energy and effort. Leading a company as big as ByteDance with TikTok is too stressful," said Shan Meng, an analyst with investment bank Chanson & Co.

ByteDance itself is one of the companies that China has warned about user privacy issues and its dominance. Zhang himself admitted that he resigned so that he could more freely enjoy his life.