New Oriental Announces Appointment of Mr. Zhihui Yang as Executive President

Rhea-AI Summary

New Oriental Education & Technology Group Inc. (NYSE: EDU) announced the appointment of Mr. Zhihui Yang as Executive President, effective January 15, 2021. Mr. Yang, who has served as Chief Financial Officer since April 2015, has extensive experience within the company and the education sector. His promotion is expected to enhance leadership as New Oriental continues its growth as China's largest private educational services provider. The company offers diverse educational programs, including K-12 tutoring, test preparation, and online education.

Positive

• Mr. Zhihui Yang's promotion is expected to strengthen leadership.
• Yang's extensive experience in finance and education will contribute positively to company growth.

Negative

• Concerns about continuity following a significant leadership change.

BEIJING, Jan. 18, 2021 /PRNewswire/ -- New Oriental Education & Technology Group Inc. (the "Company" or "New Oriental") (NYSE: EDU and 9901.SEHK), the largest provider of private educational services in China, today announced that the board of directors has appointed Mr. Zhihui Yang as the Executive President of the Company, effective on January 15, 2021. Mr. Yang will continue to serve as the Chief Financial Officer of the Company.

Mr. Zhihui Yang has served as the Company's Chief Financial Officer since April 2015. Prior to this, Mr. Yang held multiple positions after he joined our company in April 2006, including vice president of finance, deputy director of president office and senior financial manager. Prior to joining New Oriental, Mr. Yang served as the financial director of Beijing Hua De Xin Investment Co., Ltd. from July 2002 to March 2006. From August 1997 and May 2002, Mr. Yang worked for PricewaterhouseCoopers as a senior auditor. Mr. Yang received his bachelor's degree in economics from Guanghua School of Management of Peking University.

Mr. Michael Yu, New Oriental's Executive Chairman, said, "We are very pleased to announce Mr. Yang's promotion to Executive President. Mr. Yang has been with the Company for 14 years and a key part of our success with his wealth of experience, knowledge and passion in China's fast-growing education services industry, along with his prior experience in accounting, financial management and corporate financial advisory. As we are delighted to have Mr. Yang taking this important leadership role at New Oriental, we look forward to the contributions he will make to the future growth of the Company and wish him well in his new role."

About New Oriental

New Oriental is the largest provider of private educational services in China offering a wide range of educational programs, services and products to a varied student population throughout China. New Oriental's program, service and product offerings consist of K-12 after-school tutoring, test preparation, language training for adults, pre-school education, primary and secondary school education, education materials and distribution, online education, and other services. New Oriental is listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK) respectively. New Oriental's ADSs, each of which represents one common share. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

For more information about New Oriental, please visit http://www.neworiental.org/english/.

Contacts
For investor and media inquiries, please contact:

Ms. Rita Fong
FTI Consulting
Tel: +852 3768 4548
Email: rita.fong@fticonsulting.com  

Ms. Sisi Zhao
New Oriental Education & Technology Group Inc.
Tel: +86-10-6260-5568
Email: zhaosisi@xdf.cn

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SOURCE New Oriental Education and Technology Group Inc.

FAQ

Who is the new Executive President of New Oriental (EDU)?

Mr. Zhihui Yang has been appointed as the Executive President of New Oriental, effective January 15, 2021.

What was Zhihui Yang's role before becoming Executive President of EDU?

Before his appointment, Zhihui Yang served as the Chief Financial Officer of New Oriental since April 2015.

What impact might Zhihui Yang's promotion have on New Oriental (EDU)?

Yang's promotion is expected to strengthen leadership and contribute to the company's growth in the education sector.

When was Zhihui Yang appointed as Executive President of New Oriental (EDU)?

Zhihui Yang was appointed as Executive President effective January 15, 2021.