Short-video apps owner Kuaishou said on Friday that its co-founder Su Hua was
stepping down as chief executive with immediate effect and would be succeeded by the company's other founder Cheng Yixiao.
Su's role as the chairman of the board will remain the same, Kuaishou said in a statement,adding that Cheng will oversee the company's daily operations and report to Su.
The change is the latest among China's most well-known tech companies where founders have relinquished their jobs overseeing daily operations amid efforts by Chinese regulators to strengthen their oversight over big corporations.