BEIJING, Dec. 24, 2020
/PRNewswire/ -- RYB Education, Inc. ("RYB" or the
"Company") (NYSE: RYB), a leading early childhood education service
provider in China, today announced the appointment of a
new director to its board of directors (the "Board"), Mr.
Cen Shi, effective December 31, 2020. The Company also announced the
resignation of Mr. Liang Meng from
his positions as a director of the Company, effective December 31, 2020. Mr. Meng resigned for personal
reasons and not due to any disagreement with the Company on any
matter relating to the Company's operations, policies or
practices.
Mr. Shi is a partner of Ascendent Capital Partners, a
China-based private equity firm.
Prior to joining Ascendent, Mr. Shi was senior vice president of D.
E. Shaw & Co., responsible for its Greater China private equity investment
business. Prior to that, Mr. Shi served as vice president at CCMP
Capital Asia Pte Ltd. (formerly known as JP Morgan Partners Asia),
where he focused on buyouts and other private equity investments in
the Asia Pacific region. He began
his career at Goldman Sachs Investment Banking division, where he
worked on equity offerings and cross-border mergers and
acquisitions for Chinese companies. Mr. Shi received his bachelor's
degree and master's degree in economics from Tsinghua
University.
Mr. Meng served as a director of the Company since November 2015. "On behalf of the Board of
Directors, I would like to express my gratitude to Mr. Meng for his
valuable contributions to RYB during his tenure on the Board," said
RYB's Chairman, Mr. Chimin Cao. "We
are delighted to have Mr Shi join our Board as a director. His
extensive experience in capital markets and private equity
investment will bring significant value to RYB."
About RYB Education, Inc.
Founded on the core values of "Care" and "Responsibility,"
"Inspire" and "Innovate," RYB Education, Inc. is a leading early
childhood education service provider in China. Since opening its first play-and-learn
center in 1998, the Company has grown and flourished with the
mission to provide high-quality, individualized and age-appropriate
care and education to nurture and inspire each child for his or her
betterment in life. During its two decades of operating history,
the Company has built "RYB" into a well-recognized education brand
and helped bring about many new educational practices in
China's early childhood education
industry. RYB's comprehensive early childhood education solutions
meet the needs of children from infancy to 6 years old through
structured courses at kindergartens and play-and-learn centers, as
well as at-home educational products and services.
For investor and media inquiries, please
contact:
In China:
RYB Education, Inc.
Investor Relations
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Yang Song
Tel: +86 (10) 6508-0677
E-mail: ryb@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
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SOURCE RYB Education, Inc.