Peng Yongdong becomes chairman, CEO of KE Holdings

KE Holdings Inc ("Beike"), a leading integrated online and offline platform for housing transactions and services, announced on late Monday that its board of directors appointed Peng Yongdong, the company's co-founder, chief executive officer and executive director, as the new chairman of the board to succeed Zuo Hui who passed away on May 20.

The company was listed on the New York Stock Exchange in August 2020, the first such domestic company on the New York bourse.

In addition, the company announced that Zuo will be the permanent chairman emeritus of the company to commemorate his invaluable contributions and legacy.

Upgraded from Lianjia, China's leading real estate brokerage brand, Beike is a pioneer in building the industry infrastructure and standards in China to reinvent how service providers and housing customers efficiently navigate and complete housing transactions, ranging from existing and new home sales, home rentals, to home renovation, real estate financial solutions and other services.

"We remain deeply saddened by the passing of Zuo, our visionary founder, the pioneer of our mission, and a leading figure in the industry who, at all times, devoted himself to exploration and innovation. From Lianjia to Beike, Zuo has established legendary milestones in China's housing transaction and service industry. His invaluable legacy will continue to lead the growth of the company. Meanwhile, Zuo's beliefs and values are embedded in our corporate DNA, guiding the stability of our management team and the organic growth of our company," said Peng.

The company's executive directors and executive officers, as well as the company's principal shareholder Propitious Global Holdings Limited, have also pledged, along with the company, that for a 365-day period beginning Tuesday, they will not sell, transfer or otherwise dispose of any of the company's ordinary shares or US depositary shares they currently hold.

Wang Min contributed to this story