Zhang Yiming, co-founder of ByteDance, will step down as CEO and take a new role, the company said on Thursday. Another co-founder, Liang Rubo, will take over as CEO of ByteDance globally and Zhang will move to a key strategic role at the end of 2021.

“There are still several things that we would like to improve, and I think someone else can better drive progress through areas like improved daily management. The reality is, I lack some of the skills that make an ideal manager,” Zhang said in a note to employees.

“I am more interested in analyzing structure and market principles and grasping these theories to further reduce management work, instead of managing people. Similarly, I am not very social, activities like being online, reading, listening to music, and daydreaming about what may be possible,” he said. ByteDance said Zhang and Liang “will work side by side over the next six months to make sure the easiest possible transition.”

• What is Stock Order : Types, Differences & How Order Works
• India’s Business Activity Hits 3-Month High in Nov Amid Rising Costs
• Trudeau to Cut Sales Tax and Send Checks to Canadians Ahead of Election
• Ashwini Vaishnaw Encourages German Companies to Invest in India
• Flipkart Appoints Dan Bartlett to Board

Zhang’s decision to step down came just after ByteDance named its chief financial officer Shouzi Chew as CEO of TikTok. TikTok has sought to distance itself from Beijing after the United States raised national security issues over the safety of the personal data it handles.