Pinduoduo (PDD.US) upgraded its governance structure, and Zhao Jiazhen became the co-chairman, making every effort to promote the high-quality development of China's supply chain

The Zhitong Finance App learned that on December 19, the Pinduoduo Group (PDD.US) Annual Shareholders' Meeting announced the upgrade of the governance structure and the implementation of a joint chairman system. With the approval of the board of directors, Zhao Jiazhen was appointed as co-chairman and co-chairman and co-CEO with Chen Lei.

Since Chen Lei took over as the chairman of the company in 2021 and the company established a co-CEO in 2023, Pinduoduo has continued to improve the joint governance mechanism to better meet growing business needs. Zhao Jiazhen said that in the past few years, Temu has reached a considerable scale at a speed that has surprised us. This is a key leap forward in the dividends of China's supply chain industry. It has also brought new opportunities for the development of the domestic supply chain and new opportunities for Pinduoduo and Temu in the next stage of restructuring. The company will grasp the key to high-quality development, re-invest in China's supply chain for the next three years, make every effort to promote high-quality development and branding of the supply chain, and strive to make another leap forward and build another Pinduoduo.