New Oriental Education Names Louis T. Hsieh as President; Mr. Hsieh Will Continue as CFO and Board Director
May 18 2009 - 4:00AM
PR Newswire (US)
BEIJING, China, May 18 /PRNewswire-Asia/ -- New Oriental Education
& Technology Group Inc. (the "Company" or "New Oriental")
(NYSE:EDU), the largest provider of private educational services in
China, today announced that its Board of Directors has named Louis
T. Hsieh as President, effective immediately. Mr. Hsieh will
continue his duties as the Company's Chief Financial Officer and as
a Board Member. "Louis has been an integral part of New Oriental's
success these past several years," said Michael Yu, New Oriental's
Chairman and CEO. "Since leading New Oriental through our IPO on
the New York Stock Exchange in 2006, Louis' professionalism,
vision, business acumen and wealth of experience have been
instrumental to New Oriental's ongoing success. I look forward to
continuing to work closely with him in his expanded role." Mr.
Hsieh joined New Oriental as CFO in 2005 and was elected to its
board of directors in 2007. Mr. Hsieh brings a depth of operations,
financial services and legal experience to New Oriental, having
previously served as a Managing Director and Asia-Pacific
Technology/Media/Telecom Head for UBS Capital and as an investment
banker for JP Morgan and Credit Suisse in the Silicon Valley. Mr.
Hsieh has also worked as a corporate and securities attorney at
White & Case LLP and is a member of the State Bar of
California. Mr. Hsieh holds a B.S. degree in Engineering from
Stanford University, an MBA degree from the Harvard Business
School, and a J.D. degree from the University of California at
Berkeley. About New Oriental New Oriental is the largest provider
of private educational services in the People's Republic of China
(the "PRC") based on the number of program offerings, total student
enrollments and geographic presence. New Oriental offers a wide
range of educational programs, services and products consisting
primarily of English and other foreign language training, test
preparation courses for major admissions and assessment tests in
the United States, the PRC and Commonwealth countries, primary and
secondary school education, development and distribution of
educational content, software and other technology, and online
education. New Oriental's ADSs, each of which represents four
common shares, currently trade on the New York Stock Exchange under
the symbol "EDU." For more information, please contact: In China:
Ms. Sisi Zhao New Oriental Education and Technology Group Inc. Tel:
+86-10-6260-5566 x8203 Email: Ms. Cynthia He Brunswick Group LLC
Tel: +86-10-6566-9504 Email: In the U.S.: Ms. Kate Tellier
Brunswick Group LLC Tel: +1-212-333-3810 Email: DATASOURCE: New
Oriental Education and Technology Group Inc. CONTACT: In China, Ms.
Sisi Zhao of New Oriental Education and Technology Group Inc.,
+86-10-6260-5566 x8203, or , or Ms. Cynthia He of Brunswick Group
LLC, +86-10-6566-9504, or , for EDU; or in the U.S., Ms. Kate
Tellier of Brunswick Group LLC, +1-212-333-3810, or , for EDU
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