The city of Shanghai, where Pinduoduo Inc is based. — Leslin_Liu/Pixabay
Colin Huang stepped down as chief executive officer of Pinduoduo Inc after building the five-year-old startup into a force in China’s e-commerce industry and, in the process, becoming one of the country’s richest people.
He’s turning the role over to Lei Chen, another founder at the Shanghai-based company, effective immediately, PDD said in a letter to employees posted on its website. Huang, 40, will remain chairman.
