Sunlands Technology Group Announces Changes to Board of Directors
Sunlands Technology Group (NYSE: STG) announced on March 25, 2021, the appointment of Ms. Jing Gao to its Board of Directors, effective the same day. This follows the resignation of Mr. Xiaochuan Wang, Mr. Zheng Du, and Mr. Gaoneng Ji from the Board, effective March 24, 2021. Ms. Gao has 16 years of experience within the company, most recently as Vice President, and brings significant insights into the Chinese adult continuing education market. The management change aims to leverage her expertise to enhance the company's technology and education offerings in China's online education sector.
- Appointment of Ms. Jing Gao to the Board may provide fresh perspectives and strengthen leadership, given her extensive experience within the company.
- Resignations of key directors could raise concerns about continuity in governance and strategic direction.
BEIJING, March 25, 2021 /PRNewswire/ -- Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), a leader in China's online post-secondary and professional education, today announced the appointment of Ms. Jing Gao to the Company's Board of Directors, effective on March 25, 2021. For personal reasons, Mr. Xiaochuan Wang has tendered his resignation from the position of an independent director and a member of the audit committee, and Mr. Zheng Du and Mr. Gaoneng Ji have tendered their resignation as a member of the Board, all effective on March 24, 2021.
Ms. Gao has worked in Sunlands for 16 years, and held management responsibilities in various departments of the Company with the most recent role as the vice president. Ms. Gao has deep and keen insights into the Chinese adult continuing education market and extensive experiences in team management.
Mr. Peng Ou, Founder and Chairman of the Board, said, "On behalf of the Board and executive team, I would like to thank Xiaochuan, Zheng and Gaoneng for their contributions during their time at Sunlands, and wish them the best in their future endeavors. We are also delighted to welcome Ms. Gao to the Board. We look forward to her contributions drawing from her rich experience and profound insight as we continue to bring our leading technology and educational content to China's growing online post-secondary and professional education market."
About Sunlands
Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), formerly known as Sunlands Online Education Group, is the leader in China's online post-secondary and professional education. With a one to many, live streaming platform, Sunlands offers various degree and diploma-oriented post-secondary courses as well as online professional courses and educational content, to help students prepare for professional certification exams and attain professional skills. Students can access its services either through PC or mobile applications. The Company's online platform cultivates a personalized, interactive learning environment by featuring a virtual learning community and a vast library of educational content offerings that adapt to the learning habits of its students. Sunlands offers a unique approach to education research and development that organizes subject content into Learning Outcome Trees, the Company's proprietary knowledge management system. Sunlands has a deep understanding of the educational needs of its prospective students and offers solutions that help them achieve their goals.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Sunlands may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Sunlands' beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Sunlands' goals and strategies; its expectations regarding demand for and market acceptance of its brand and services; its ability to retain and increase student enrollments; its ability to offer new courses and educational content; its ability to improve teaching quality and students' learning results; its ability to improve sales and marketing efficiency and effectiveness; its ability to engage, train and retain new faculty members; its future business development, results of operations and financial condition; its ability to maintain and improve technology infrastructure necessary to operate its business; competition in the online education industry in China; relevant government policies and regulations relating to Sunlands' corporate structure, business and industry; and general economic and business condition in China. Further information regarding these and other risks, uncertainties or factors is included in the Sunlands' filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Sunlands does not undertake any obligation to update such information, except as required under applicable law.
For investor and media enquiries, please contact:
Sunlands Technology Group
Investor Relations
Email: sl-ir@sunlands.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
Email: sunlands@tpg-ir.com
Ross Warner
Tel: +86-10-6508-0677
Email: sunlands@tpg-ir.com
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SOURCE Sunlands Technology Group
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