New Oriental Promotes President Chenggang Zhou As CEO, Effective Sept. 2

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU), a provider of private educational services in China, announced Friday that the Board of Directors appointed Chenggang Zhou, the Company's current President, as Chief Executive Officer, effective September 2.

Zhou succeeds Michael Minhong Yu, Founder, Chairman and Chief Executive Officer, who will become Executive Chairman of the Board and continue to oversee the company's business strategies and operations.

Zhou joined New Oriental in 2000 and since then has held multiple management positions in the Company, including President, and Executive President for Domestic Business.

Minhong Yu said, "Throughout his 16-year career with New Oriental, Chenggang has demonstrated outstanding leadership, true passion about our mission and a strong commitment to our values. With the notable progress and ongoing evolution of New Oriental, the Board and I agreed that this was an opportune time to effect a seamless transition to a new leadership team."