BEIJING, May 11, 2021 /PRNewswire/ -- China Online
Education Group ("51Talk," or the "Company") (NYSE: COE), a leading
online education platform in China
with core expertise in English education, announced today that its
board of directors (the "Board") has appointed Mr. Shengwen
(Roy) Rong as an independent director, effective May 11, 2021. Mr. Rong will also serve as a
member and chairman of the audit committee of the Board, a member
of the compensation committee of the Board, and a member of the
nominating and corporate governance committee of the Board. Also
effective May 11, 2021, Mr.
Conor Chia-hung Yang resigned as a
director of the Company for personal reasons and stepped down as a
member and chairman of the audit committee of the Board, a member
of the compensation committee of the Board, and a member of the
nominating and corporate governance committee of the Board. The
resignation of Mr. Yang did not result from any dispute or
disagreement with the Company or the Board on any matter relating
to the Company's operations, policies or practices.
Mr. Shengwen (Roy) Rong currently
serves as an independent director of BlueCity Holdings Limited
(Nasdaq: BLCT), Qudian Inc. (NYSE: QD), X Financial (NYSE: XYF) and
MOGU Inc. (NYSE: MOGU). From February
2017 to September 2018, Mr.
Rong served as the senior vice president and chief financial
officer at Yixia Technology Co., Ltd, a leading live video
broadcast and short-video platform in China. Prior to that, he served as the chief
financial officer at Quixey, Inc. from 2015 to 2016, the chief
financial officer at UCWeb from 2012 to 2014, and the chief
financial officer at Country Style Cooking Restaurant Chain Co.,
Ltd, an NYSE-listed company, from 2010 to 2012. Mr. Rong received
his bachelor's degree in international finance from Renmin
University in 1991, master's degree in accounting from West Virginia University in 1996, and MBA degree
from University of Chicago Booth School
of Business in 2000. Mr. Rong is a Certified Public Accountant in
the United States.
Mr. Jack Jiajia Huang, Founder,
Chairman and Chief Executive Officer of 51Talk, stated, "We thank
Mr. Conor Chia-hung Yang for
his service to us as our board member and wish him all the
best in his future endeavors. At the same time, we warmly welcome
Mr. Shengwen (Roy) Rong, and look
forward to working with him to build on the success we
have already achieved."
About China Online Education Group
China Online Education Group (NYSE: COE) is a leading online
education platform in China, with
core expertise in English education. The Company's mission is to
make quality education accessible and affordable. The Company's
online and mobile education platforms enable students across
China to take live interactive
English lessons with overseas foreign teachers, on demand. The
Company connects its students with a large pool of highly qualified
foreign teachers that it assembled using a shared economy approach,
and employs student and teacher feedback and data analytics to
deliver a personalized learning experience to its students.
For more information, please visit http://ir.51talk.com.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will", "expects", "anticipates", "aims",
"future", "intends", "plans", "believes", "estimates", "likely to"
and similar statements. Among other things, 51Talk's business
outlook and quotations from management in this announcement, as
well as 51Talk's strategic and operational plans, contain
forward-looking statements. 51Talk may also make written or oral
forward-looking statements in its periodic reports to the
Securities and Exchange Commission ("SEC"), 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. Statements that are not historical facts, including
statements about 51Talk's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: 51Talk's goals and strategies; 51Talk's expectations
regarding demand for and market acceptance of its brand and
platform; 51Talk's ability to retain and increase its student
enrollment; 51Talk's ability to offer new courses; 51Talk's ability
to engage, train and retain new teachers; 51Talk's future business
development, results of operations and financial condition;
51Talk's ability to maintain and improve infrastructure necessary
to operate its education platform; competition in the online
education industry in China; the
expected growth of, and trends in, the markets for 51Talk's course
offerings in China; relevant
government policies and regulations relating to 51Talk's corporate
structure, business and industry; general economic and business
condition in China, the Philippines and elsewhere and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in 51Talk's filings
with the SEC. All information provided in this press release is as
of the date of this press release, and 51Talk does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
China Online Education Group
Investor Relations
+86 (10) 8342-6262
ir@51talk.com
The Piacente Group, Inc.
Brandi Piacente
+86 (10) 5730-6200
+1-212-481-2050
51talk@tpg-ir.com
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SOURCE China Online Education Group