On July 1 day, Huang Zheng, the founder and chairman of a new e-commerce company that has been listed in Pinduoduo for two years and has more than 600 million users, announced to all employees through the intranet that Chen Lei, the former CTO of the company, would be the CEO with the approval of the board of directors. Huang Zheng himself continues to be the chairman of the company. After stepping down as CEO of the company, Huang Zheng said that he would spend more time with the board of directors to formulate the medium-and long-term strategy for the company's development, study and improve the corporate governance structure including the partner mechanism, and strive to promote by going up one flight of stairs, Pinduoduo from the institutional level, and gradually make it a public institution with international competitiveness.
Huang Zheng also said that Pinduoduo will continue to establish and improve the partnership system. When Pinduoduo went public in July, 20 18, the framework of partner system had been established, but the specific forms, such as how to choose partners and what responsibilities partners should bear, were still being explored. Therefore, Huang Zheng distributed 7.74% shares of Pinduoduo listed companies under his personal name to Pinduoduo's collective partners. Some of them were assigned to carry out some long-term basic research and social welfare research without affecting the interests of existing shareholders in Pinduoduo to provide other long-term power and batteries for the company; The other part serves as a supplementary incentive for future management.