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: zhaosisi@staff.neworiental.org
Ms. Cynthia He
Brunswick Group LLC
Tel: +86-10-6566-9504
Email: edu@brunswickgroup.com
In the U.S.:
Ms. Kate Tellier
Brunswick Group LLC
Tel: +1-212-333-3810
Email: ktellier@brunswickgroup.com
