Pinduoduo billionaire founder Colin Huang exits board
China’s fastest-growing e-commerce company surpasses Alibaba as its growth sets records
17 March 2021 - 17:20
Pinduoduo’s billionaire chair Colin Huang has stepped down from the board, relinquishing control of China’s fastest-growing e-commerce company the same day it announced its user base had surpassed Alibaba’s.
Founder Huang will be replaced by Lei Chen, who keeps his CEO title, the company said in a statement Wednesday. The move cements Huang’s retreat from the corporation that has helped him become China’s third-richest man, after he handed over the role of CEO in 2020...
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