ByteDance billionaire founder leaves board as China tightens scrutiny

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News ByteDance billionaire founder leaves board as China tightens scrutiny ByteDance has come under fire from regulators seeking to rein in its once-freewheeling internet industry. 03 November 2021 - 18:00 Zheping Huang ByteDance chair Zhang Yiming. Picture: SHANNON STAPLETON/REUTERS ByteDance’s billionaire founder Zhang Yiming has stepped down as chair, months after resigning as CEO of the TikTok owner that’s seeking to reposition itself amid China’s crackdown on its internet industry. New CEO Liang Rubo has replaced Zhang on the five-member board that also includes representatives from investors Susquehanna International Group and Sequoia Capital China, according to a person familiar with...