LAIX Inc. Announces Changes in Board and Committee Composition

Rhea-AI Summary

LAIX Inc. (NYSE: LAIX) announced board changes effective September 30, 2020. Christopher Ludwig Eisgruber will depart from the board and its committees, with Min (Jenny) Zhang taking his place on the compensation committee and becoming chairperson of the nominating and corporate governance committee. Additionally, Dr. Li-Lan Cheng has been re-elected as an independent director for another two-year term. LAIX is an AI-focused company in China, specializing in innovative English learning products using deep learning technologies and a mobile app platform.

Positive

• Min (Jenny) Zhang appointed as chairperson of the nominating and corporate governance committee.
• Dr. Li-Lan Cheng re-elected as an independent director for another two-year term.

Negative

• Departure of independent director Christopher Ludwig Eisgruber may signal potential instability in governance.

SHANGHAI, Sept. 18, 2020 /PRNewswire/ -- LAIX Inc. ("LAIX" or the "Company") (NYSE: LAIX), an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning, today announced that Mr. Christopher Ludwig Eisgruber, one of the Company's independent directors, will cease to serve on the Company's board of directors and its committees upon the expiration of his current term ending on September 30, 2020. Upon the effectiveness of Mr. Eisgruber's departure, Ms. Min (Jenny) Zhang will be appointed as a member of the compensation committee and the chairperson of the nominating and corporate governance committee of the board of directors of the Company, replacing Mr. Christopher Ludwig Eisgruber. In addition, Dr. Li-Lan Cheng was re-elected to serve another two-year term as an independent director of the Company, effective September 30, 2020.

About LAIX Inc.

LAIX Inc. ("LAIX" or the "Company") is an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning. Its proprietary AI teacher utilizes cutting-edge deep learning and adaptive learning technologies, big data, well-established education pedagogies and the mobile internet. LAIX believes its innovative approach fundamentally transforms learning. LAIX provides its products and services on demand via its mobile apps, primarily its flagship "English Liulishuo" mobile app launched in 2013. On the Company's platform, AI technologies are seamlessly integrated with diverse learning content incorporating well-established language learning pedagogies, gamified features and strong social elements to deliver an engaging, adaptive learning experience. LAIX provides a variety of courses inspired by a broad range of topics and culture themes to make English learning more interesting and is committed to offering a fun, interactive learning environment to motivate and engage its users.

For investor and media inquiries, please contact:

LAIX Inc.
Harry He
Investor Relations
Email: ir@laix.com

The Piacente Group Investor Relations
Brandi Piacente
Tel: +1-212-481-2050
Email: liulishuo@tpg-ir.com

Emilie Wu
Tel: +86-21-6039-8363
Email: liulishuo@tpg-ir.com

View original content:http://www.prnewswire.com/news-releases/laix-inc-announces-changes-in-board-and-committee-composition-301133839.html

SOURCE LAIX Inc.

FAQ

What changes were announced in LAIX's board on September 18, 2020?

LAIX announced that Christopher Ludwig Eisgruber will leave the board, with Min (Jenny) Zhang appointed to replace him, and Dr. Li-Lan Cheng was re-elected as an independent director.

Who is the new chairperson of the nominating and corporate governance committee for LAIX?

Min (Jenny) Zhang has been appointed as the new chairperson of the nominating and corporate governance committee.

When does Christopher Ludwig Eisgruber's term on the LAIX board expire?

His term will expire on September 30, 2020.

What is LAIX known for?

LAIX is known for its AI-driven English learning products, including the 'English Liulishuo' mobile app.