Chinese social commerce platform Pinduoduo Inc. (NASDAQ: PDD) announced today that its Board of Directors has appointed Lei Chen as its new Chief Executive Officer (CEO).
Chen has served as Chief Technology Officer (CTO) of the company since 2016. Prior to Pinduoduo, Chen was the CTO of Xinyoudi Studio since 2011.
“Pinduoduo has grown very fast because we were able to meet the unmet needs of many Chinese consumers,” Chen said of his appointment as CEO. “I am honored and humbled to take on the role of CEO of Pinduoduo and look forward to working with the rest of our management team and colleagues to make Pinduoduo an even better corporate citizen and contribute more to society.”
Colin Huang, the company’s Chairman and former CEO, will remain as the Chairman of the Board.
“I will remain Chairman and be closely involved in working with the Board and management to formulate the company’s longer term strategy,” said Huang. “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.”
Pinduoduo also appointed Andre Zhu Jianchong as General Counsel, and Tony Ma Jing as its Vice President of Finance.