On July 8th, Fenbi (ASX: 02469) issued an announcement stating that Zhang Xiaolong has resigned from his positions as Executive Director, Chief Executive Officer, Chairman of the Board, member of the Board Remuneration Committee, and Chairman of the Board Nomination Committee, effective immediately. The resignation is due to his need to attend to other personal affairs, and he will no longer hold any position within the company.
Where necessary, Zhang will continue to provide strategic advice to Fenbi. This change will not affect the validity or continuity of the concerted action arrangement previously entered into by Zhang Xiaolong and others.
Fenbi announced that Sheng Haiyan will be appointed as Executive Director, Chief Executive Officer, and Chairman of the Board, effective July 8th. Previously, Zhang Xiaolong was primarily responsible for Fenbi's overall strategic planning, business development and operations, as well as overall technology and course development. These responsibilities will now be transferred to Sheng Haiyan.
Introduction to the new leadership reveals that Sheng Haiyan is currently the Vice President of Fenbi, responsible for the overall management of the group's book publishing and sales. She joined the company in February 2015. As one of the early core team members of Fenbi, Sheng possesses over 16 years of experience in the non-academic vocational education and training industry.
She has served as a director or senior management member of several Fenbi subsidiaries, including Vice President of Beijing Fenbi Lantian Technology Co., Ltd. since February 2015 and Vice President of Beijing Fenbi Tianxia Culture Communication Co., Ltd. since March 2016, giving her comprehensive insight into Fenbi's various business lines and operational systems.
The announcement concluded by noting that Fenbi's Board of Directors expressed its gratitude for Zhang Xiaolong's contributions during his tenure.
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