SHENZHEN, China, July 21 /PRNewswire-Asia/ -- Noah Education Holdings Ltd. (NYSE: NED, "Noah" or "the Company"), a leading provider of supplementary education products and services in China, today announced the appointment of Mr. Jerry He to the position of Executive Vice President, effective July 21, 2009. Mr. He will take over some of the responsibilities including accounting and finance, investor relations and business development, previously held by Mr. Rick Chen, who is resigning from his position as Executive Vice President due to personal reasons, effective August 1, 2009. Mr. Chen will remain a strategic advisor to Noah.
Mr. Dong Xu, Noah's Chairman and Chief Executive Officer, said, "I am pleased to welcome Jerry He to our senior management team. Jerry comes to us not only with extensive experience in the financial sector, but also with an outstanding track record of developing management strategy and new business. I have full confidence in Jerry's abilities to help implement our key strategic initiatives as we enter our next phase of growth.
"Rick Chen, who has overseen Noah's accounting and finance, legal, information technology, investor relations, new business development as well as strategic investments for the past two years, has played a leading role in our growth into a public company and our continuous expansion into new frontiers within the Chinese education market. In addition to leading Noah's IPO process in 2007 and overseeing the development and the implementation of new systems and business processes, Rick also spearheaded our strategic investments and led our acquisition of Little New Star. We are grateful for his contributions and wish him all the best in his future endeavors," Mr. Xu added.
Mr. He, age 35, brings over nine years of financial industry and business development experience to his new role at Noah. He was most recently a portfolio manager at Morgan Stanley Global Wealth Management and was previously at Bear Stearns. Before his career in the financial industry, Mr. He worked as a management consultant at ZS Associates, and from 2002 to 2005 he served as Senior Director at Verispan LLC, where he was responsible for business development and management science. From 2000 to 2002, he was a senior market researcher at Research International and a Senior Consultant at NDCHealth. Mr. He holds a Bachelor of Science degree from Peking University and earned an MBA with Honors from the University of Chicago, Booth School of Business. He is also a CFA charter holder.
About Noah
Noah Education Holdings Limited is a leading provider of supplementary education products and services in China. Noah's core offering includes the development and marketing of electronic learning products (ELPs), interactive educational courseware content, software, kids English training and after-school education services. Noah combines standardized education content with innovative digital and multimedia technologies to create a dynamic learning experience and improve academic performance for students throughout China. Noah has developed a nationwide sales network, powerful brand image, and accessible and diverse delivery platforms to bring its innovative content to the growing student population. The interactive and comprehensive services Noah offers will enable students and teachers to engage in knowledge-sharing communities, all centered around the Noah brand. Noah was founded in 2004 and is listed on the New York Stock Exchange under the ticker symbol NED.
For more information about Noah, please visit http://www.noahedu.com.cn .
Safe Harbor Statement
This press release contains forward-looking statements that reflect Noah's current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Noah has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that our actual future results may be materially different from and worse than what Noah expects. Information regarding these risks, uncertainties and other factors is included in Noah's most recent Annual Report on Form 20-F and other filings with the SEC.
For more information, please contact:
Contacts:
Investor Contact:
Jerry He
Executive Vice President
Noah Education Holdings Ltd.
Tel: +86-755-8204-9263
Email: jerry.he@noahedu.com
Investor Relations (US):
Jessica McCormick
Taylor Rafferty
Tel: +1-212-889-4350
Email: noahedu@taylor-rafferty.com
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Email: noahedu@taylor-rafferty.com