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BEIJING, Dec. 24, 2020 /PRNewswire/ --
RYB Education, Inc. ("RYB" or the "Company") (NYSE: RYB), a leading early childhood education service provider in China, today announced the appointment of a new director to its board of directors (the "Board"), Mr. Cen Shi, effective December 31, 2020. The Company also announced the resignation of Mr. Liang Meng from his positions as a director of the Company, effective December 31, 2020. Mr. Meng resigned for personal reasons and not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.
Mr. Shi is a partner of Ascendent Capital Partners, a China-based private equity firm. Prior to joining Ascendent, Mr. Shi was senior vice president of D. E. Shaw & Co., responsible for its Greater China private equity investment business. Prior to that, Mr. Shi served as vice president at CCMP Capital Asia Pte Ltd. (formerly known as JP Morgan Partners Asia), where he focused on buyouts and other private equity investments in the Asia Pacific region. He began his career at Goldman Sachs Investment Banking division, where he worked on equity offerings and cross-border mergers and acquisitions for Chinese companies. Mr. Shi received his bachelor's degree and master's degree in economics from Tsinghua University.