SHENZHEN, China, Nov. 9 /PRNewswire-Asia-FirstCall/ -- Noah Education
Holdings Ltd. (NYSE: NED, "Noah" or "the Company"), a leading provider of
interactive educational content and education services in China, today
announced the appointment of Mr. Benguo Tang, one of Noah's founders, to the
position of President and Chief Operating Officer, as well as the appointment
of Mr. Jerry He, the Company's Executive Vice President, to the role of Chief
Financial Officer.
Mr. Tang will take over the position of Chief Operating Officer from Mr.
Xianquan Xiao, who has stepped down due to personal matters, but will continue
to serve Noah on the Company's Board of Directors. Having played an
instrumental role in Noah's founding, Mr. Tang brings to the position not only
vast industry knowledge, but a deep understanding of Noah's business. Mr.
Xiao,
who has overseen the Company's daily business activity and operating
initiatives since taking on the role of Chief Operating Officer in 2008,
remains committed to Noah's long-term success, and will continue to provide
strategic advice in the capacity of Executive Director.
Mr. Jerry He, who joined Noah in July 2009 as Executive Vice President,
will assume the position of Chief Financial Officer, driving the Company's
corporate and strategic development as it enters a new growth phase, while
also maintaining responsibility for the fiscal planning and investor relations
functions. Ms. Dora Li, who has served as Chief Financial Officer since 2008,
and has reported to Mr. He since he joined the company in July, will continue
to play a leadership role at the Company, managing Noah's internal financial
controls and accounting processes as Noah's Vice President of Finance,
Controller. All of the aforementioned managerial changes will all take effect
immediately.
Mr. Dong Xu, Noah's Chairman and Chief Executive Officer, said, "These
managerial changes will allow each individual to focus on his or her core
strengths and, ultimately, create a stronger and more cohesive senior
management team to support our growth. We wish Mr. Xiao all the best in his
personal endeavors, and look forward to the invaluable leadership and advice
he will continue to provide as an Executive Director. We welcome Mr. Tang's
return to the management team as Chief Operating Officer. Given his
commitment to the success of Noah since its inception and his wealth of
company and industry experience, I am confident that he will be able to hit
the ground running and provide a seamless transition as we continue our
expansion."
"Additionally, Jerry He will continue to leverage his extensive background
in both finance and business development as he more actively spearheads
strategic investments and drives both organic and acquisitive growth
initiatives in his new role as Chief Financial Officer. Dora Li, who has been
instrumental to our growth as a public company, will take on a more focused
leading role in our finance department. With the continued expansion of Noah,
we believe it is imperative to have someone as experienced as Ms. Li dedicated
to overseeing our internal controls and financial reporting. I welcome each
individual to their new role and am confident that their collaborative efforts
and expertise will further our vision of becoming the leading provider of
interactive educational content and education services in China," Mr. Xu
concluded.
About Noah
Noah Education Holdings Limited is a leading provider of interactive
educational content and education services in China. Noah's core offering
includes the development and marketing of interactive educational courseware
content, electronic learning products (ELPs), 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 the kids at
the age of 3-19 in China. Noah has developed a nationwide sales network,
powerful brand image, and accessible and diverse delivery platforms to bring
its innovative content to the student population. Noah also provides kids'
English training service under the brand Little New Star in its direct-owned
schools and more than 600 franchise schools throughout China. 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.noahtech.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:
Investor Contact:
Jerry He
CFO, 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
SOURCE Noah Education Holdings Ltd.
Investor Contact: Jerry He, CFO, Executive Vice President of Noah Education
Holdings Ltd, +86-755-8204-9263, or jerry.he@noahedu.com; Investor Relations
(US): Jessica McCormick of Taylor Rafferty, +1-212-889-4350, or
noahedu@taylor-rafferty.com; Investor Relations (HK): Ruby Yim of Taylor
Rafferty, +852-3196-3712, or noahedu@taylor-rafferty.com
