Temu-owner PDD Holdings appoints co-CEO Zhao as co-chairman of board

December 19, 2025 8:20 AM EST

The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. REUTERS/Florence Lo/Illustration

Dec 19 (Reuters) - ⁠PDD Holdings ⁠on ‍Friday appointed co-chief executive officer Jiazhen Zhao ‍as co-chairman of the Temu owner's ​board, joining the company's other ​chief executive Lei Chen.

U.S.-listed shares of the Chinese e-commerce company were up over 6% ​in premarket trading.

A founding member of the company ​and a key figure behind the Duo Duo ‌Grocery business, Zhao was appointed as director and co-CEO ​of PDD in ⁠April 2023 after having held several top roles ‌at the firm.

PDD also appointed Mi Wang as senior vice president ‌of engineering and Jiong Li as ‌financial director.

The top-level executive changes come as Chinese e-commerce majors such as ‍PDD and Alibaba cut prices and run promotional ⁠offers to woo customers in a period of subdued spending.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Sahal Muhammed)



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