Dingdong announces chief executive change

SHANGHAI, March 4, 2026 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced the resignation of Changlin Liang as Chief Executive Officer of the Company and the appointment of Song Wang as the new Chief Executive Officer of the Company, concurrently with his resignation as Chief Financial Officer, effective March 4, 2026. Liang will continue to serve as Chairman of the Company's Board of Directors (the "Board").

As the founder of the Company, Liang has served as Chairman of the Board and Chief Executive Officer since the inception of the Company in May 2017. Liang commented, "At the founding of Dingdong in 2017, amid a crowded field of fresh food e‑commerce companies, we survived fierce competition by staying committed to product quality and service excellence. When confronted with the pandemic in 2020, Dingdong stepped up without hesitation and became a major force in securing daily supplies for the public. Following our listing in 2021, we adopted the strategy of "Efficiency First with due Consideration of Scale" to sustain consistent profitability and long‑term viability. All these milestones confirm that the only sustainable path forward is to steadfastly take on the difficult tasks, always put users at the heart, and do what is right for the business and society. Today, Dingdong's sustained profitability and the formation of our core competitive moat—including superior product strength, beyond‑expectation service quality, and exceptional operational efficiency empowered by our end‑to‑end supply chain system—would not have been possible without the dedication of every Dingdong team member, the trust of our users, the commitment of our partners, and the support of all investors."

The Board also congratulates Wang on his appointment as the new Chief Executive Officer, which follows the Board's thorough evaluation and deliberation.

Song Wang has nearly four years of core management experience with the Company. Since joining the Company, he has held various key positions, including Senior Vice President and director of the Company since September 2023, Chief Financial Officer since December 2023, and Chairman of the Dingdong Guyu Business Group (responsible for the Company's private label products' development and standardization, quality control and supply chain integration) since May 2025. During January 2024 to December 2024, Wang had overall responsibility for the Company's day-to-day operations and successfully led Dingdong to achieve growth in both scale and profitability, demonstrating a deep understanding of the fresh food retail industry and exceptional strategic execution capabilities. He has been deeply involved in the Company's product development, end-to-end supply chain construction and financial strategic planning, and played a central role in driving significant improvements in key performance indicators.

The Board commented, " Wang has a comprehensive and in-depth understanding of the Company's business and has demonstrated outstanding leadership in its financial management and business operations. We are confident that he is the ideal leader to steer Dingdong into its next phase of growth."

Commenting on his appointment, Wang said: "Dingdong is committed to making quality fresh groceries as accessible as tap water for everyone. Going forward, I will work with the team to continue focusing on building differentiated product strengths, enhancing supply chain capabilities, and upholding our user-centric service philosophy. We will strive to achieve further breakthroughs in ensuring livelihood supply, improving operational efficiency, and exploring sustainable retail models, creating long-term value for consumers, shareholders and partners."

The Board also approved the resignation of Song Wang from his position as Chief Financial Officer of the Company.

In addition, the Company also announced that Xu Jiang, Chief Technology Officer of the Company, has tendered his resignation due to personal reasons, by the end of March 2026. Jiang's resignation is not the result of any dispute or disagreement with the Company or the Board of Directors, nor any matter relating to the Company's operations, policies, or practices. The responsibilities previously overseen by the CTO role will be redistributed among existing members of the leadership team to ensure seamless continuity of the Company's technology functions.

Liang added, "We sincerely appreciate Jiang's outstanding leadership and remarkable achievements during his tenure. He led the Company to evolve into a fully digitalized, end-to-end fresh supply chain enterprise, and made tremendous contributions to infrastructure development, operational efficiency, technology architecture evolution, and supply chain restructuring."

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