ByteDance-owned XR unit PICO said founder Zhou Hongwei will step down as
business head for personal reasons and Li Xiaokai will assume full
responsibility for PICO operations. The company said the management change will
not affect PICO’s strategic direction, R&D or product timelines. PICO expects to
launch a new mixed-reality (MR) product later this year, and an internal notice
confirmed Zhou’s departure.