Wanmei Li and
Zi Chen Appointed to Co-CEOs
Jerry He to Lead Overseas School and Education
Technology Businesses
FOSHAN, China, May 8, 2020 /PRNewswire/ -- Bright Scholar
Education Holdings Limited ("Bright Scholar" or the "Company")
(NYSE: BEDU), a global premier education service company, today
announced changes to the Company's management structure and senior
leadership team to better support Bright Scholar's multi-facet
growth strategy and expanding global business. The changes are
effective immediately.
Having led Bright Scholar as the Chief Executive Officer ("CEO")
since January 2019, Mr. Derek Feng has decided
to step down for personal reasons. "We thank Derek for his
efforts to enhance the operational strength of the Company,
establishing a solid foundation that will support our future
expansion," said Ms. Huiyan Yang,
Chairlady of the board of directors of Bright Scholar (the
"Board").
The Board has decided to split the role of the CEO into two,
each heading up one of the Company's core China-based business units: domestic K-12
education and complementary education service. Ms. Wanmei Li will be promoted to CEO for domestic
K-12 education business, and Mr. Zi
Chen promoted to CEO for complementary education service
business.
In addition, Mr. Jerry He,
current Executive Vice Chairman of the Board, will take the lead
managing the Company's overseas school business and the development
of education technology business. He will also work closely with
Ms. Wanmei Li and Mr. Zi Chen to ensure synergy across all business
units and seamless execution of Bright Scholar's strategy.
Ms. Huiyan Yang, Chairlady of the
Board, commented: "Over the past two years, many factors have come
together to bring unprecedented impact on our industry: the
evolving regulatory landscape of the education industry in
China, the growing uncertainty of
the global political and economic environment, the recent outbreak
of COVID-19 pandemic, and adoption of emerging technologies.
Against this backdrop, the expansion of the leadership team is
pivotal to ensure that the global vision and multi-facet growth
strategy of the Board will be effectively executed."
"I'd like to congratulate Ms. Li and Mr. Chen on their
appointment. Ms. Li has over 20 years of extensive experience in
sales and marketing, business development, organization and
operations management. She has been instrumental in fostering a
close collaboration between real estate developers and Bright
Scholar. She will lead the expansion and drive operation
efficiency of our schools in China."
"Mr. Chen was the general manager responsible for the management
and operation of our Elan English learning centers where he has
demonstrated his leadership and ability to deliver results. He has
extensive experience in strategic management and business
operation. He obtained his bachelor degree from Fudan University,
and his master degree in management science and engineering from
Stanford University. He will lead the
integration and growth of complementary education businesses. Ms.
Li and Mr. Chen are a formidable leadership team, each bringing
complementary skills and experience that will further strengthen
our core businesses while expanding our suite of services and
advancing synergistic integrations."
Ms. Yang continued: "The Board
is appreciative of Jerry to take the lead in our overseas business
and education technology business. The overseas business is a
critical component in our global strategy. Education technology
will rejuvenate education industry and Bright Scholar. Jerry has
decades of international experience and is driving investments in
education technology, he is the most suitable person to manage our
overseas business, pursue development of education technology,
while continuing to advance the overall growth strategy and M&A
initiatives for Bright Scholar."
"We are confident that these changes will accelerate the
Company's growth, advance its strategic vision as a global premier
education service company, and drive shareholder value," she
concluded.
About Bright Scholar Education Holdings
Limited
Bright Scholar is a global premier education service company,
dedicated to providing quality international education to global
students and equipping them with the critical academic foundation
and skillsets necessary to succeed in the pursuit of higher
education. Bright Scholar also complements its international
offerings with Chinese government-mandated curriculum for students
who wish to maintain the option of pursuing higher education in
China. As of February 29, 2020, Bright Scholar operated 80
schools across ten provinces in China and eight schools overseas, covering the
breadth of K-12 academic needs of its students. In the six months
ended February 29, 2020, Bright
Scholar had an average of 51,879 students enrolled at its
schools.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of 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 include,
without limitation, the Company's business plans and development,
which can be identified by terminology such as "may," "will,"
"expect," "anticipate," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Such statements are based upon management's
current expectations and current market and operating conditions
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond the Company's control, which
may cause the Company's actual results, performance or achievements
to differ materially from those in the forward-looking statements.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. 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 law.
IR Contact:
GCM Strategic
Communications
Email: BEDU.IR@gcm.international
Media Contact:
Email: media@brightscholar.com
Phone: +86-757-6683-2507
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SOURCE Bright Scholar Education Holdings Ltd.