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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 focu
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SMIC, China’s largest chip manufacturing company, has once again fallen into management disputes that threatens to disrupt its tech advances.
On December 15, at an interim board of directors meet held by SMIC, the current co-CEO Liang Mengsong submitted a written resignation to the board.
According to China Fund News, the reason for Liang Mengsong’s resignation was that Jiang Shangyi, a former TSMC veteran, has been appointed as SMIC’s vice chairman earlier that day.
This caused dissatisfaction for Liang Mengsong, who said he was not notified beforehand and was not consulted for the senior leadership change.
Zhou Zixue, chairman of SIMC, did not approve Liang Mengsong’s resignation on the spot. The two sides are reportedly trying to work out some kind of resolution.