Founder of TikTok and the Owner of ByteDance, Zhang Yiming, announced that he will step down as the Chief Executive today, May 20.

The move represents the biggest corporate shake-up at ByteDance since it first launched in 2012. 

TikTok by ByteDance became the world's most valuable startup.

His co-founder, Liang Rubo, who runs the Human Resource division, will be the Chief Executive.

In his memo to ByteDance's employees, he expressed that he would be more effective in another role. 

“I worry I am still relying too much on the ideas I had before starting the company and haven’t challenged myself by updating those concepts,” wrote Zhang.

He later added that he felt he lacks in some managerial skills to be the ideal manager. 

"I’m more interested in analysing organisational and market principles and leveraging these theories to further reduce management work, rather than actually managing people. Similarly, I’m not very social, preferring solitary activities like being online, reading, listening to music, and daydreaming about what may be possible,” wrote Zhang.

After several months of deliberation, he concluded that he would have a greater impact on ByteDance's longer-term initiatives if he transitioned out of the CEO role.

Zhang's decision to step down comes less than a month after ByteDance named its chief financial officer Shouzi Chew as CEO of TikTok.

The transition between Zhang and Liang will take place over the next six months. 

ByteDance currently employs more than 100,000 people globally and made preparations for its much-anticipated initial publish offering (IPO) earlier this year but halted the IPO plans in April.