FOSHAN, China, Feb. 22,
2023 /PRNewswire/ -- Bright Scholar Education
Holdings Limited ("Bright Scholar" or the "Company") (NYSE: BEDU),
a global premier education service company, today announced
appointment of an independent director to the board of directors of
the Company (the "Board") and changes in its management.
The Company announced the appointment of Mr. Meng Rui as an independent director and the
chairman of the audit committee of the Board. The Board has
reviewed the independence of Mr. Meng
Rui and determined that he satisfies the "independence"
requirements of Section 303A of the Corporate Governance Rules of
the New York Stock Exchange and the "independence" standards under
Rule 10A-3 of the Securities Exchange Act of 1934. In
addition, the Board has determined that Mr. Meng Rui qualifies as an "audit committee
financial expert" as defined in Item 407(d)(5)(ii) of Regulation
S-K. Although Mr. Meng Rui
simultaneously serves on the audit committees of more than three
public companies, the Board has determined that such simultaneous
service would not impair his ability to effectively serve on the
Company's audit committee.
Mr. Meng Rui is the Parkland
Chair Professor in Finance at China Europe International Business
School and has served as an independent director at various listed
companies in China and overseas,
including Shang Gong Group Co., Ltd. (SSE: 600843), China Education
Group Holdings Limited (HKEX: 00839), Landsea Green Management
Limited (HKEX: 00106), Dexin Services Group Limited (HKEX: 02215),
Country Garden Services Holdings Company Limited (HKEX:06098) and
Jiayin Group Inc. (NASDAQ: JFIN). Mr. Rui was also an independent
director at Midea Group Co., Ltd. (SZSE: 000333) from 2015 to 2018,
Winner Technology Co., Inc. (SZSE: 300609) from 2014 to 2020, and
Cosco Shipping Energy Transportation Co., Ltd. (HKEX: 01138; SSE:
600026) from 2015 to 2021. Mr. Rui holds a bachelor's degree in
international economics from University of International Relations,
a Master of Science degree in economics from Oklahoma State University, and a Master of Business
Administration degree and a Doctor of Philosophy degree in business
administration from the University of
Houston. Mr. Rui is a Certified Financial Analyst by the
Association for Investment Management and Research since 2000 and a
Financial Risk Manager by the Global Association of Risk
Professionals since 2010.
Upon the effectiveness of Mr. Rui
Meng's appointment, the Board consists of four directors,
including two independent directors.
In addition, Ms. Wanmei Li
informed the Company that she intended to resign as the Co-Chief
Executive Officer of the Company for personal reasons. The
resignation of Ms. Wanmei Li did not
result from any disagreement with the Company on any matter
relating to the Company's operation, polices or practices. Bright
Scholar thanks Ms. Wanmei Li for her
efforts and contributions to the Company. The Board has accepted
Ms. Wanmei Li's resignation,
effective on February 22, 2023.
Moreover, Mr. Zi Chen will be
transferred from his current role as the Co-Chief Executive Officer
of the Company to serve as a president of the Company.
In connection with the resignation of Ms. Wanmei Li and the transfer of Mr. Zi Chen, the Company announced the appointment
of Mr. Hongru Zhou, the chairman of
the Board, as the Chief Executive Officer of the Company, effective
on February 22, 2023.
The Company also announced the transfer of Ms. Dongmei Li from her current role as the Chief
Financial Officer of the Company to serve as a senior management
counsel of the Company and the appointment of Mr. Ruolei Niu as the
Chief Financial Officer of the Company, effective on February 22, 2023.
Mr. Ruolei Niu served as the vice general manager of Country
Garden Venture Capital from February
2022 to February 2023. Prior
to that, Mr. Niu had also served as the founder, general manager,
co-chief investment officer and responsible officer at CG Partners
Asset Management Co., Limited from 2015 to 2022, and the executive
director, fund manager and responsible officer at China Merchants
Fund Management Co., Ltd. from 2010 to 2015. Mr. Niu was an
investment analyst and an investment and taxation accountant at ING
Investment Management from 2007 to 2010 and 2004 to 2007,
respectively. Mr. Niu holds a Bachelor of Commerce degree in
accounting from the University of
Melbourne and a Master of Commerce degree in finance from
the University of Sydney. Mr. Niu is a
Certified Financial Analyst and a member of Certified Practising
Accountant Australia.
About Bright Scholar Education Holdings
Limited
Bright Scholar is a global premier education service company,
which primarily provides quality international education to global
students and equip them with the critical academic foundation and
skillsets necessary to succeed in the pursuit of higher
education.
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.