Huang Zheng, founder of Pinduoduo, released a 2021 letter to shareholders announcing that he would hand over the position of chairman to the current CEO Chen Lei after being approved by the board of directors. After stepping down from the management positions of chairman and Pinduoduo, Huang Zheng's 1:10 super-voting right will also expire, and the voting rights of his shares will be entrusted to Pinduoduo's board of directors to make decisions by voting.Huang Zheng made a clear commitment that his shares will continue to be locked in and not to be sold in the next three years.
Explaining this important decision in a letter to shareholders, Huang Zheng said that drastic changes in the external environment caused by the epidemic and other reasons had accelerated the iteration of Pinduoduo's internal business and management. Pinduoduo from a pure light assets of the third-party platform, began to change weight, in warehousing, logistics and agricultural goods source began a new round of investment, new business began to sprout in Pinduoduo and grow rapidly. This has not only changed Pinduoduo, but also spawned and trained a new generation of leaders and managers. "it's time to gradually let more waves rise up to shape their Pinduoduo."
In the letter to shareholders, Huang Zheng believes that with the increasingly fierce and even alienated competition in the industry, the traditional scale and efficiency-oriented competition has its inevitable problems, and action must be taken on the lower and fundamental problems. look for answers in core technology and its basic theory.
Huang Zheng believes that Pinduoduo himself is still very young, has a very thick and long snowy slope, and still has room for rapid growth for a long time, but if we want to ensure its high-speed and high-quality development in 10 years' time, some exploration is now the right time. As a founder, Huang Zheng hopes to combine his own interests and jump out to "touch the stone on the road 10 years later."
In his letter to shareholders, Huang Zheng gave examples to look forward to the field of scientific research that he will devote himself to for a long time after he resigns as chairman.For example, through the control of the planting process of agricultural products, explore the reliable and effective control of the content of potentially harmful heavy metals such as potatoes, sweet potatoes, tomatoes and so on. At the same time, the possible and beneficial trace elements can be standardized and improved.
It is also a very happy thing that I can't become a scientist, but I may have the opportunity to become an assistant to a (great) scientist in the future. Huang Zheng said that in-depth research in the field of basic science and technology will help to break through the innovation of the circulation model of "getting rid of the middle and two ends" and qualitatively improve the added value and health level of agricultural products.