Shulou(Shulou.com)11/24 Report--

CTOnews.com April 4 news, pinduoduo Group today announced that with the approval of the board of directors, co-founder Zhao Jiazhen will serve as executive director and co-CEO, partnering with Chen Lei to jointly manage the company's business.

According to reports, Zhao Jiazhen, who graduated from South China University of Technology, is a member of the founding team of pinduoduo Group. He was initially responsible for the overall operation of pinduoduo's agricultural category and the construction of the uplink supply chain of agricultural products; in the second half of 2020, he led a team to take the lead in Kaesong, creating and leading the Duoduo vegetable purchase business, and ranked first in the internal competition; in the second half of last year, it also led the team to promote the upgrading of the supply chain system of Puduo.

Chen Lei, chairman of pinduoduo Group and co-CEO, said, "Zhao Jiazhen will focus on supply chain management and Chinese business operations, and I will focus on globalization."

Zhao Jiazhen said that in the future, pinduoduo will continue to increase investment in rural supply chain system and industrial upgrading, continue to serve the major needs of rural revitalization, and provide assistance in agricultural research, science and technology, support for new farmers, and other areas.

According to pinduoduo's financial report, pinduoduo's total revenue in 2022 was 130.5576 billion yuan, an increase of 39 percent compared with 2021. The net profit attributed to pinduoduo's common shareholders was 31.5381 billion yuan, an increase of 306 per cent compared with 2021. Excluding Non-GAAP, the net profit attributable to pinduoduo's common shareholders was 39.5297 billion yuan, an increase of 186 per cent compared with 2021.

CTOnews.com Note: joint CEO system is suitable for technology-driven, agile management companies, and can bring diversified capabilities, backgrounds and ideas for business development. Other technology companies that have adopted the joint CEO system include Netflix and Google's self-driving Waymo.

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