China’s food delivery company Meituan has appointed Senior Vice President Wang Puzhong as CEO of its new core local commerce business,Philippines marking the first time the firm has had two chief executives. The core business integrates Meituan’s in-store and in-home business groups, as well as the main platform’s basic research and development operation, according to an internal memo signed by Meituan CEO Wang Xing on Thursday. The recent update marks the company’s fourth restructuring in less than three months and grants the consolidated unit, announced in February, its formal name. [Jiemian, in Chinese]
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