PDD Holdings, the parent company of bargain-hunter e-commerce site Pinduoduo and Temu, named ZHAO Jiazhen as co-CEO on Tuesday.

Zhao, a founding member of the company, has served as vice president of PDD since 2018. Together with CEO and president CHEN Lei, Zhao will be steering the company through the changing consumer market.?

Chen said while he will focus on globalization of the PDD, Zhao will concentrate more on supply chain management and China operations.