Zhang Yiming, who helped found TikTok’s parent company, the Chinese internet conglomerate ByteDance, and turned it into a globe-straddling giant, will step down as chief executive at the end of the year to focus on long-term strategy, he wrote in a letter to employees dated Wednesday.
ByteDance’s co-founder and head of human resources, Liang Rubo, will take the reins as chief executive.
“After handing over my role as C.E.O., and removing myself from the responsibilities of daily management, I will have the space to explore long-term strategies, organizational culture and social responsibility, with a more objective perspective on the company,” Mr. Zhang wrote.
JPMorgan Shakes Up the Race to Succeed Jamie Dimon
Marianne Lake and Jennifer Piepszak get new roles and are potentially pitted against each other.
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Jennifer Piepszak, left, and Marianne Lake were named joint heads of JPMorgan’s consumer and community bank.Credit.JPMorgan; Reuters
In a position to succeed?
JPMorgan Chase announced a major management shuffle yesterday, renewing chatter about a hotly debated topic on Wall Street: Who will succeed Jamie Dimon as C.E.O.? The changes may also pave the way for a woman to lead the United States’ largest bank. Here’s the rundown:
Marianne Lake, the bank’s head of consumer lending, and
Why Justice Breyer May Resist Calls for His Retirement
In a recent speech on “the peril of politics,” Justice Stephen G. Breyer said judges must renounce loyalty to “the political party that helped to secure their appointment.”
Justice Stephen G. Breyer, 82, has been on the Supreme Court for nearly 27 years.Credit.Stefani Reynolds for The New York Times
May 17, 2021, 5:00 a.m. ET
WASHINGTON Many liberals say Justice Ruth Bader Ginsburg made a terrible miscalculation in deciding, in her 80s and after bouts with cancer, not to retire under President Barack Obama. She died in September, allowing President Donald J. Trump to name her successor and shift the Supreme Court to the right.
Santa Clara U. President Resigns After Inappropriate Behavior, Officials Say
The Rev. Kevin O’Brien had delivered the homily at a Mass for the inauguration of President Biden in January.
The Rev. Kevin O’Brien, who delivered the homily at a Mass for President Biden’s inauguration, resigned as president of Santa Clara University after an investigation found that he had engaged in inappropriate behavior, the university said.Credit.Randy Vazquez/The Mercury News/MediaNews Group, via Getty Images
Published May 12, 2021Updated May 13, 2021, 12:10 a.m. ET
A Jesuit priest who delivered the homily at a Mass for the inauguration of President Biden has resigned as the president of Santa Clara University after he engaged in inappropriate behavior, university officials said on Wednesday.
White House Is Said to Quietly Push Change to D.C. Statehood Bill
The deliberations over the long-shot bill center on three Electoral College votes the Constitution gives to the seat of government.
Clergy demonstrating in favor of statehood for the District of Columbia in April. Such a step would create two additional Senate seats that Democrats would most likely win.Credit.Evelyn Hockstein/Reuters
May 13, 2021, 5:00 a.m. ET
WASHINGTON The Biden administration has quietly approached congressional Democrats about a potential change to their high-profile but long-shot effort to transform most of the District of Columbia into the nation’s 51st state, according to executive and legislative branch officials.