RISE Education Cayman Ltd (NASDAQ:REDU) Stock Jumps After Announcing Management Change

Leading education service provider focusing on the development of cognitive and aptitude training for young children, RISE Education Cayman Ltd (NASDAQ:REDU) on August 31, 2021, announced Mr. Warren Wang resigning from the role of Chief Financial Officer due to personal reasons.

Mr. Alex Wu will be serving as the company’s CFO from September 1 while Wang will continue to be with the firm till September 30, 2021, for ensuring a smoother transition. Wu has significant experience in technology, corporate finance, and management parts and serves currently as executive vice president as well as a member of the Asian Pacific private equity team of Bain Capital Private Equity.

Wu has been managing Rise as portfolio arm of Bain Capital since 2017 and before joining the same, he worked at PricewaterhouseCoopers Consulting focusing on media, technology as well as telecommunications across e-commerce and analytics.

He also has been associated with airline and telecommunications firms for planning and delivering transformation programs. A graduate in computer science from Peking University and MBA from Australian Graduate School of Management, Wu is well qualified.

Lihong Wang, the Chairwoman, and chief executive officer of RISE, expressed gratitude towards Warren’s contribution and wished all the best for future endeavors. Furthermore, Wang also appreciated Wu serving as the firm’s acting CFO with his extensive experience.