BEIJING, Feb. 27, 2020 /PRNewswire/ -- Tarena
International, Inc. (Nasdaq: TEDU) ("Tarena" or the
"Company"), today announced that it has appointed Mr. Kelvin Wing Kee Lau as the Company's chief
financial officer, effective on March 1,
2020. Mr. Lau succeeds Mr. Dennis Yuduo Yang, who has
resigned from the Company and will assist with the transition for a
short period of time.
Prior to joining us, Mr. Lau was the chief financial officer of
Square Panda Inc., a U.S.-based AI education start-up company,
between July 2018 and August 2019. Between March
2007 and June 2018, Mr. Lau
first served as the chief financial officer of Perfect World Co.,
Ltd., a China-based online game
company ("Perfect World") listed on Nasdaq between 2007 and 2015,
and later as the chief financial officer of Perfect World Holding
Co., Ltd., the holding company of Perfect World. Between
November 2004 and February 2007, Mr. Lau was the chief financial
officer of Beijing Media Corporation Limited, a company listed on
the Stock Exchange of Hong Kong Limited. From 2000 to 2004, Mr. Lau
was a group finance director of Shanghai Ogilvy & Mather
Advertising Limited Beijing Branch. From 1990 to 2000, Mr. Lau
worked at Hong Kong, Shanghai and Beijing offices of PricewaterhouseCoopers,
lastly as a senior manager in Beijing. Mr. Lau received his bachelor's
degree in business administration from Hong Kong Baptist University in 1990. He received his EMBA
degree in 2011 from Cheung Kong Graduate School of Business in
China. Mr. Lau is a member of
Association of Chartered Certified Accountants and Hong Kong
Institute of Certified Public Accountants.
In addition to the new chief financial officer appointment, Mr.
Arthur Wong has been appointed as an
independent director of the Company. Mr. Wong has also been
appointed as the chairman of the audit committee of the board, as
well as members of the compensation committee and the nominating
and corporate governance committee. Mr. Jonathan Xiaosong Zhang has resigned from the
board for personal reasons. Mr. Zhang's resignation did not result
from any disagreement with the Company. These changes will be
effective on March 1, 2020.
Mr. Wong currently serves as an independent director and
chairperson of the audit committees of the following public
companies: Daqo New Energy Corp. (NYSE: DQ), China Maple Leaf
Educational Systems Limited (HKSE:1317) and Canadian Solar Inc.
(Nasdaq: CSIQ). Between January 2013
and November 2018, Mr. Wong served as
the chief financial officer of Radio Cultural Transmission Co.,
Ltd. an early stage music production company in Beijing, China. From 2008 to 2012, Mr. Wong
served as Chief Financial Officer for Asia New-Energy, Nobao
Renewable Energy and GreenTree Inns Hotel Management Group
sequentially. From 1982 to 2008, Mr. Wong worked for Deloitte
Touche Tohmatsu, in Hong Kong,
San Jose and Beijing over various periods of time, most
recently as a partner in the Beijing office. Mr. Wong received a bachelor's
degree in applied economics from the University of San Francisco and a higher diploma of
accountancy from Hong Kong Polytechnic University. He is a member
of the American Institute of Certified Public Accountants and the
Hong Kong Institute of Certified Public Accountants.
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. Tarena may also make written or oral
forward-looking statements in its reports filed with or furnished
to the 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 fourth parties. Any
statements that are not historical facts, including any statements
about Tarena's beliefs and expectations, are forward-looking
statements. Many factors, risks and uncertainties 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: uncertainty surrounding
management's ongoing evaluation of any potential restatements
to any of the Company's previously filed financial statements,
the types of errors and adjustments that may be required
in any such restatement, the extent of any material weaknesses or
significant deficiencies in the Company's internal and
disclosure controls, how promptly and thoroughly
the recommendations of the audit committee can
be implemented, potential legal or regulatory action
related to the matters under investigation, and adverse decisions
by the SEC or Nasdaq. In addition, the Company faces
other risks and uncertainties that could affect its ability
to complete the restatement of its financial statements,
to file its periodic reports, and to regain compliance with
the Nasdaq listing requirements. Further information regarding
these and other risks, uncertainties or factors is included in
Tarena's filings with the Commission. All information provided in
this press release is current as of the date of the press release,
and Tarena does not undertake any obligation to update such
information, except as required under applicable law.
About Tarena International, Inc.
Tarena is a leading provider of professional education services
in China. Through its innovative
education platform combining live distance instruction,
classroom-based tutoring and online learning modules, Tarena offers
professional education courses in IT and non-IT subjects. Tarena
also offers child education programs. Its professional education
courses provide students with practical skills to prepare them for
jobs in industries with significant growth potential and strong
hiring demand.
For further information, please contact:
Amanda Wang
Investor Relations Contact
Tarena International, Inc.
Email: ir@tedu.cn
Phone: +86-10-5621-9451
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SOURCE Tarena International, Inc.