RYB Education, Inc. Announces Change in Composition of Board of Directors

BEIJING, September 17, 2021 / PRNewswire / – RYB Education, Inc. (“RYB” or the “Company”) (NYSE: RYB), a leading provider of early childhood education services in China, today announced the resignation of Mr. Chimin Cao as Chairman of the Board of Directors (the “Board”) of the Company and his new appointment as Honorary Chairman of the Board, the resignation of Mr. Cen Shi as a Director of the Board and his re-appointment as an observer of the Board, and the appointment of Mr. Gang Chen as chairman of the board, effective September 17, 2021. Mr. Cao will remain a director of the board. Mr. Cao and Mr. Shi have resigned from their current positions for personal reasons and not because of a disagreement with the Company on any matter relating to the operations, policies or practices of the Company. Mr. Cao will also no longer be a member of the board’s nomination and corporate governance committee. The Company is grateful for Mr. Cao’s contribution over the years as a co-founder of the Company. Mr. Dennis Demiao Zhu is appointed Chairman and Mr. Joel A. Getz a member of the Corporate Governance and Board Nominating Committee, effective from September 17, 2021. Ms. Yanlai Shi, co-founder of the Company, will continue to act as a director and CEO, while Mr. Hao Gu will remain as CFO of the Company.

Mr. Gang Chen is a partner of Ascendent Capital Partners, where he has been heavily involved in the management of its portfolio companies and has accumulated extensive experience in operations and corporate management. Prior to joining Ascendent, he was Chief Strategist for Biltmore Capital Group and Head of Alternative Investment Group for CMS Companies. Mr. Chen obtained his bachelor’s degree from East China Normal University where he worked for a few years after graduation. He obtained a Masters of Business Administration from the Yale School of Management.

Mr. Gang Chen, new Chairman of the Board of Directors of RYB, said, “RYB strongly supports government strategies and policies related to early childhood education and is fully committed to promoting inclusive education. In the future, RYB will continue to actively assume its social responsibilities. We will serve overall national development, operate within laws and regulations, and continuously improve the quality of education and services. In addition, we will increase our investments in digital transformation, fine-grained operations, teacher training and safety management, taking practical steps to actively implement policies aimed at providing accessible education to young children and better services to families and society. “

About RYB Education, Inc.

Based on the core values ​​of “Care” and “Responsibility”, “Inspire” and “Innovate”, RYB Education, Inc. China. Since opening its first play and learning center in 1998, the company has grown and flourished with the mission of providing high quality, individualized and age-appropriate care and education for nurture and inspire each child for their well-being in life. During its two decades of operation, the company has made “RYB” a well-recognized education brand and has contributed to the emergence of many new educational practices in the world. from China early childhood education sector. RYB’s comprehensive early childhood education solutions meet the needs of children from infancy to age 6 through structured classes in kindergartens and play and learning centers, as well as products and home education services.

For more information, please visit http://ir.rybbaby.com.

Safe Harbor Declaration

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” “,” The future “,” intentions “,” plans “,” belief “,” estimates “,” confidence “and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: the Company’s brand recognition and reputation in the market ; the Company’s growth strategies; trends and competition in the Chinese early childhood education market; variations in its income and certain cost or expense items; the expected growth of the Chinese early childhood education market; Chinese government policies relating to the Company’s industry and general economic conditions in China. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company assumes no obligation to update any forward-looking statement, except as required by applicable law.

For investor and media inquiries, please contact:

In China:
RYB Education, Inc.
Investor Relations
E-mail: [email protected]

The Piacente Group, Inc.
Yang Song
Phone. : +86 (10) 6508-0677
E-mail: [email protected]

In the United States:
The Piacente Group, Inc.
Brandi Piacente
Phone: + 1-212-481-2050
E-mail: [email protected]

SOURCE RYB Education, Inc.

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