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

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 company were up over 6% in premarket trading.

A founding member of the company, Zhao was appointed as director and co-CEO of PDD in April 2023 after having held several top roles at the firm.