Zhang Yiming | TikTok CEO admits he doesn't have the skills to lead - so what are they?

This week, Zhang Yiming, the leader of popular social networking site TikTok’s parent company Bytedance astonished the business world by announcing that, having led the company since its inception in 2016, he will be stepping down from his position.

Whilst the Co-founder has had an instrumental role in TikTok’s creation and unimitated success (his own personal wealth as a result of the company’s success is estimated by Forbes to be over £31billion in 2021), the biggest shock in his retirement from the role of CEO doesn’t stem from his desire to step down, but the reason behind the move.

Yiming confirmed in a candid open memo to staff, which was seen by The Guardian, that the key reason for relinquishing the position of CEO, is because he doesn’t believe he has the skills to truly succeed as a leader.

In the poignant memo, Yiming states: “The truth is, I lack some of the skills that make an ideal manager. I’m more interested in analysing organisational and market principles... than actually managing people.”