SHENZHEN, China, Dec. 30, 2011 /PRNewswire-Asia/ -- Noah Education Holdings Ltd. (NYSE: NED) ("Noah" or "the Company"), a leading provider of education services in China, announced today that, it has accepted the resignation of Mr. Jerry He as its Chief Executive Officer. Jerry's decision to resign from Noah is due to personal reasons and will be effective January 1, 2012. Mr. Dong Xu, Chairman of the Board of Directors and Chief Strategy Officer will act as CEO on an interim basis while the board evaluates alternatives to fill the role on permanent basis.
Moreover, Mr. Qicai Du, the general manager of Wentai Education, has been appointed as director, effective January 1, 2012.
Mr. Xu said, "On behalf of the Board, I would like to thank Jerry for his leadership, dedication and contribution to Noah as the Company has undergone a successful transformation into an education services company and achieved a turnaround to profitability. Beginning as executive vice president in 2009, and continuing through periods of the Company's structural changes and economic crisis, Jerry has been integral in creating an education service platform poised for continued growth. Looking ahead, I believe that the recent changes that we have made to the Company's strategy, management and operational structure have put us in an excellent position to move forward. I am confident that with the strong team that we already have in place, allied to the planned senior recruitment, we will continue to achieve our goals of returning to profitable growth in 2012. I would also like to take this opportunity to wish Jerry every success in his future endeavors."
"We are pleased to welcome Mr. Du to the Board. His deep knowledge of education market, strong leadership and an outstanding track record of developing and growing education business will benefit both the Company and our shareholders."
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