Pinduoduo announces organizational changes, Huang Zheng no longer serve as CEO
Nearly two years into its U.S. IPO, Pinduoduo gets an organizational upgrade.
The founder and chairman of this fast-growing Chinese e-commerce company, Huang Zheng, announced in an all-employee letter that CTO Chen Lei will be appointed as CEO and Huang Zheng will continue to serve as Chairman of the Board.
Huang Zheng said that Pinduoduo has experienced rapid growth over the past few years. "The rapid expansion of the team, the rapid growth of the business and the drastic changes in the external environment are all pushing us to further iterate and upgrade our management team and corporate governance structure."
With this realignment, Huang Zheng will spend more time with the board of directors to develop the company's medium- and long-term strategy and look into improving the corporate governance structure, including the partnership mechanism.
"I hope that with this realignment, management will gradually hand over more management work and responsibilities to younger colleagues, allowing the team to accelerate the growth to make Pinduoduo a better and stronger company that continues to be full of entrepreneurial energy," Huang Zheng said.
Pinduoduo also appointed senior vice president Zhu Jianchong as the company's chief legal officer and Ma Jing as the company's vice president of finance.