Today, Xueda Education Group announced that Mr. William Hsu and Mr. Cheung Kin Au-Yueng have joined the Board of Directors. Xueda also announced that Mr. Gongquan Wang has resigned as a director, citing personal reasons for his departure. Xeuda is the leading provider of personalized tutoring services for primary and secondary school students throughout China.
Mr. William Hsu has over 10 years of investment experience in both venture capital and traditional business sectors in China. He currently serves as a general partner at CDH Venture Partners, where he has been since 2007. Prior to joining CDH, Mr. Hsu was a senior vice president from 1996 to 2006 at GIC Special Investments Pte. Ltd. At GIC, Mr. Hsu focused his investment activities on the Greater China market and played an instrumental role in a number of successful investments across a wide range of sectors, including semiconductor, electronics, software, financial services, industrial and consumer products. Mr. Hsu received his bachelor’s degree in 1986 and a master’s degree in 1989 in engineering from the University of California, Berkeley.
Mr. Cheung Kin Au-Yueng brings over 30 years of general management experience to Xueda, gained through working with the privately-owned Morningside Group and other notable multi-national companies, including Gillette, Revlon, and Hiram Walker. He currently oversees the Morningside Group’s operations as well as its portfolio companies in China. Prior to joining Morningside, he acted as head of Gillette’s operations in China for five years. He also serves as a board director of The9 Limited (NASDAQ: NCTY). Mr. Au-Yueng holds a master’s degree in physics and an MBA from Indiana University.
On the additions and departures to Xueda’s board, Mr. Xin Jin, co-founder and CEO, remarked, “We are very pleased to welcome William Hsu and Tony Au-Yueng to the Xueda Board. They both bring decades of executive management experience and industry leadership across a wide spectrum of industries and companies. We expect their insights will be valuable in helping our Board lead Xueda in the years to come. I would also like to thank Mr. Gongquan Wang for his dedicated service to our company during his time as a director.”
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