BEIJING, Jan. 11, 2012 /PRNewswire-Asia/ -- ChinaEdu
Corporation (NASDAQ: CEDU) ("ChinaEdu" or the "Company"), a leading
online educational services provider in China, today announced changes to the
management structure of the company. Mr. Shawn Ding, president and chief operating
officer will resign from that role to become chief executive
officer, effective immediately. Former chief executive officer and
chairman of the board of directors, Ms. Julia Huang, will maintain her role as the
chairman of the board of directors and will continue to work full
time for the company as executive chairman.
With Shawn Ding's appointment as
chief executive officer, he will take on greater responsibility for
ChinaEdu's core online degree programs, building on his experience
leading those programs over the past decade. Julia Huang will continue to oversee the
day-to-day management of other areas of the business including
ChinaEdu's 101 Online School (K-12 online after-school programs)
and international programs. She will also focus on further
developing the Company's corporate governance structure and
deepening corporate culture. Additionally, she will continue to
work with Simon Mei, ChinaEdu's
chief financial officer, on strategic financial management.
Shawn Ding commented, "I am
pleased to accept this new role and expand my work with our
outstanding management team and employees to capitalize on the
tremendous opportunities in the Chinese educational services
industry. I look forward to Julia's continued involvement as we
enter this next exciting chapter. In particular, I intend to
dedicate myself to improved profitability in each of our learning
centers and to the expansion of our core online degree programs.
Julia and I intend to bring renewed energy to our roles to realize
success for our Company and shareholders."
Julia Huang added "Since our
decision to become a public company in 2007, I have shared the
responsibility of leadership with Shawn
Ding. Hand-in-hand, we have drawn on our diverse backgrounds
and talents to see ChinaEdu thrive. Shawn is well-positioned to
guide ChinaEdu through its next phase of growth, bringing the
Company to its full potential. It is with great pleasure that I
welcome Shawn into the role of chief executive officer".
Shawn Ding joined ChinaEdu in
July 2001 as chief technology officer
and has served as director, president and chief operating officer
since December 2004. Before joining
ChinaEdu, Mr. Ding held various technology development and
management positions in the U.S. between 1992-2001, including the
role of chief technology officer at Infostream Technologies Inc.,
director of Internet Development at Automatic Data Processing, Inc.
and director of System Development at Prudential Insurance Company
of America. Mr. Ding received a bachelor's degree in Environmental
Science from Beijing University
and a bachelor's degree in Computer Science from Rutgers University. He also received a master's
degree in Computer Science from the New Jersey
Institute of Technology.
About ChinaEdu
ChinaEdu Corporation is an educational services provider in
China, incorporated as an exempted
limited liability company in the Cayman
Islands. Established in 1999, the Company's primary business
is to provide comprehensive services to the online degree programs
of leading Chinese universities. These services include academic
program development, technology services, enrollment marketing,
student support services and finance operations. The Company's
other lines of businesses include the operation of private primary
and secondary schools, online interactive tutoring services and
providing marketing, support for international and elite curriculum
programs and online learning community for adult students.
The Company believes it is the largest service provider to
online degree programs in China in
terms of the number of higher education institutions that are
served and the number of student enrollments supported. The Company
currently has 19 long-term contracts that generally vary from 10 to
50 years in length. ChinaEdu also performs recruiting services for
21 universities through nationwide learning center network.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in 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" and similar statements.
Among other things, the quotations from management in this
press release contain forward-looking statements. Such statements
involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Further information regarding these and other risks is
included in the Company's filings with the U.S. Securities and
Exchange Commission, including its registration statement on Form
F-1 and its annual report on Form 20-F. The Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under applicable law.
For investor
and media inquiries, please contact:
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Helen Plummer
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Senior Investor Relations
Coordinator
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ChinaEdu
Corporation
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Phone: +86
13911672124
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E-mail:
helen@chinaedu.net
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Jin Yu
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Investor Relations
Manager
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ChinaEdu
Corporation
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Phone: +86
15711096022
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E-mail:
jinyu@chinaedu.net
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SOURCE ChinaEdu Corporation