(Reuters) – ByteDance Ltd’s billionaire founder Zhang Yiming has stepped down as chairman of the company, after announcing his resignation as chief executive officer in May, Bloomberg News reported on Tuesday.
New CEO Liang Rubo has replaced Zhang on the five-member board of the company, Bloomberg said, citing a person familiar with the matter.
(Reporting by Bhargav Acharya in Bengaluru; Editing by Shri Navaratnam)
