Saturday, January 23, 2021

Pinduoduo Names New CEO, General Counsel and VP of Finance

Pinduoduo Inc. (NASDAQ: PDD) announced today that its Board of Directors has appointed Mr. Lei Chen as Chief Executive Officer, effective immediately. Mr. Zheng Huang, the Company’s Chairman and former Chief Executive Officer, will remain as Chairman of the Board.

Mr. Chen is one of the founding members of the Company and has served as Chief Technology Officer of the Company since 2016. Prior to joining the Company, Mr. Chen served as Chief Technology Officer of Xinyoudi Studio since 2011. He received his bachelor’s degree in computer science from Tsinghua University and his doctoral degree in computer science from University of Wisconsin-Madison.

“The management changes will place us on an even stronger footing to strive for the next level,” said Mr. Zheng Huang, Chairman of Pinduoduo. “Lei Chen has been instrumental to Pinduoduo’s growth since inception. With him taking on the role of CEO, I have every confidence that Pinduoduo will be able to take on more responsibility to create value for society.”

On his own role, Mr. Huang said, “I will remain Chairman and be closely involved in working with the Board and management to formulate the company’s longer term strategy.”

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