Zhang Yiming stepped down as the legal representative, informed sources: normal changes, no longer participate in daily management

Beijing News Shell Financial News (reporter Bai Jinlei) On January 27, Zhang Yiming stepped down as the legal representative of a number of ByteDance affiliated companies, including Beijing ByteDance Network Technology Co., Ltd., Beijing Word Jump Network Technology Co., Ltd., Shanghai Word Jump Network Technology Co., Ltd., Grapefruit Network Technology (Shanghai) Co., Ltd. and Beijing Shibei Technology Co., Ltd.

Relevant information shows that Zhang Yiming no longer serves as the legal representative of any company. Previously, according to media reports, Zhang Yiming has stepped down as the legal representative of Tianjin ByteDance Haihe Management Consulting Co., Ltd., Tianjin Tongrong E-commerce Co., Ltd., and Tianjin ByteDance Management Consulting Co., Ltd.

At present, the legal representative of Beijing ByteDance Network Technology Co., Ltd. is Zhang Lidong, chairman of Beijing ByteDance.

In May 2021, Zhang Yiming released a letter from all employees within ByteDance announcing his resignation as CEO and focusing on long-term important issues such as long-term strategy, corporate culture and social responsibility. In June, Zhang Yiming donated 500 million yuan to his hometown of Longyan City, Fujian Province, to establish the "Fangmei Education Development Fund" to support local education development.

In November of the same year, ByteDance co-founder Liang Rubo took over as CEO and chairman of ByteDance, announcing organizational adjustments through full email and establishing six business segments – Douyin, Vigorous Education, Feishu, Volcano Engine, Sunrise Lightyear and TikTok. The heads of relevant business sectors all reported to Liang Rubo.

According to people close to ByteDance, Liang Rubo has been fully responsible for the overall development of ByteDance, and Zhang Yiming's withdrawal from the legal representative of a number of affiliated companies is a normal change in corporate governance. The person said that Zhang Yiming no longer participates in the company's internal bimonthly meeting and no longer participates in the daily management of the company.

Beijing News shell financial reporter Bai Jinlei Editor Song Yuting Proofreader Zhao Lin