RISE Education Names Ms. Lihong Wang as Chief Executive Officer, Mr. Yiding Sun as Vice Chairman and Mr. Jia Zhu as Director

BEIJING, Jan. 3, 2020 /PRNewswire/ --A RISE Education Cayman Ltd ("RISE" or the "Company") (NASDAQ: REDU), a leading junior English Language Training ("ELT") provider in China, today announced the appointment of Ms. Lihong Wang, the Chairwoman of its board of directors, as its new chief executive officer ("CEO") to replace Mr. Yiding Sun, who will retire as CEO but remain on the board as Vice Chairman. A Ms. Wang has been a director of RISE since September 2013 and was appointed Chairwoman in October 2017. Prior to her appointment as CEO, Ms. Wang served as a Managing Director at Bain Capital. While at Bain Capital, Ms. Wang was responsible for many of the firm's investments in China, including Gymboree and RISE. Over the last five years, she also assumed responsibility for Bain Capital's portfolio management activities in China. She holds an MBA degree from Columbia Business School and a BSc degree from Fudan University. The board of directors of RISE has reappointed Mr. Jia Zhu as a director and as Chairman of its corporate governance and nominating committees, replacing Ms. Wang. Mr. Zhu is Co-head of Bain Capital Asia Private Equity. Mr. Zhu previously served on the RISE board from September 2013 to October 2017. Mr. Zhu holds a JD degree from Cornell Law School, an MA degree from Nanjing University, and a BA degree from Zhengzhou University. Mr. Yiding Sun stated, "It has been an honor and privilege to be a part of and lead the talented team at RISE and I am proud of the growth RISE has achieved over the last 6 years. I am confident that under Ms. Wang's leadership, RISE will continue to solidify its leadership position in China as the Company continues to drive sustainable growth in the long run."Ms. Lihong Wang commented, "I would like to thank Mr. Sun for his dedication and commitment to the Company and his leadership of RISE over the last 6 years. I would also like to thank the board for the opportunity to lead RISE through its next growth phase. I am very excited by the opportunities we see in the early education market in China. As a clear leader in the market with a well-established brand, a well-received core curriculum and a proven track record of successful expansion, RISE is well positioned to capitalize on these opportunities. I am committed to working closely with the leadership team and collaborating with our franchise partners as we continue to grow and expand our business."
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