BEIJING, April 9, 2020 /PRNewswire/ -- Tarena
International, Inc. (Nasdaq: TEDU) ("Tarena" or the
"Company"), today announced that its board of directors (the
"Board") has appointed Mr. Yongji
Sun as the Company's Chief Executive Officer, effective on
April 9, 2020. While resigning from
the position of chief executive officer, Mr. Shaoyun Han, founder of the Company, will
continue to serve on the Board.
Mr. Sun has served as an independent director of the Company
since April 2014. Mr. Sun currently
serves as the Chairman of Dilato Infotech Ltd. Between 2011 and
2014, Mr. Sun served as the Chief Executive Officer of Shangxue
Education Technology Inc. Between 2005 and 2011, Mr. Sun served as
Executive Vice President at Pactera Technology International Ltd.,
or Pactera (a Nasdaq listed company
from 2010 to 2014). Prior to joining Pactera in November 2005, Mr. Sun co-founded Ensemble
International Ltd. in 2002 and served as its Chief Executive
Officer from 2003 to 2005. He founded and served as Chief Executive
Officer of Newland Network Co. from 2000 to 2002. He established
China R&D Center for Lotus Development Corporation (Lotus was
later acquired by IBM) in 1993 and served as its R&D head until
1998. Mr. Sun received his bachelor's degree in Computer Science
from North-East Machinery Institute in 1985, master's degree in
Computer Science from Nanjing Aerospace & Aeronautic University
in 1988, and MBA from Babson College,
MA, U.S.A in 2000.
Mr. Shaoyun Han commented, "We
are pleased to welcome Mr. Sun as Tarena's new Chief Executive
Officer. His prior contributions to the Company, broad executive
level experience and deep knowledge of China's IT and education industries make him
an ideal leader in helping to guide Tarena through the next stages
of its transformation and further strengthening the Company's
leadership position in our industry."
In addition to the new chief executive officer appointment, the
Board has determined that Mr. Jianguang
Li satisfies the "independence" requirements of Rule
5605(a)(2) of the Listing Rules of the Nasdaq Stock Market, and
Rule 10A-3 under the Securities Exchange Act of 1934, as amended,
and is an independent director of the Company. In his new capacity
as Chief Executive Officer, Mr. Yongji
Sun will become a non-independent director of the Company,
and he will step down from the audit committee, the compensation
committee, and the nominating and corporate governance committee of
the Board. The Board has appointed Mr. Li to replace Mr. Sun as the
chairperson of the nominating and corporate governance committee,
and a member of the audit committee and the compensation committee.
These changes are effective on April 9,
2020.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Tarena may also
make written or oral forward-looking statements in its reports
filed with or furnished to the Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
fourth parties. Any statements that are not historical facts,
including any statements about Tarena's beliefs and expectations,
are forward-looking statements. Many factors, risks and
uncertainties could cause actual results to differ materially from
those in the forward-looking statements. Further information
regarding these and other risks, uncertainties or factors is
included in Tarena's filings with the Commission. All information
provided in this press release is current as of the date of the
press release, and Tarena does not undertake any obligation to
update such information, except as required under applicable
law.
About Tarena International, Inc.
Tarena is a leading provider of professional education services
in China. Through its innovative
education platform combining live distance instruction,
classroom-based tutoring and online learning modules, Tarena offers
professional education courses in IT and non-IT subjects. Tarena
also offers child education programs. Its professional education
courses provide students with practical skills to prepare them for
jobs in industries with significant growth potential and strong
hiring demand.
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SOURCE Tarena International, Inc.