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BEIJING, Nov 16, 2009 (GlobeNewswire via COMTEX News Network) -- ChinaCast Education Corporation (the "Company" or "ChinaCast") (Nasdaq:CAST), a leading for-profit, post-secondary and e-Learning services provider in China, today announced that Dr. Donald Gardner has been appointed Director of International Academic Affairs and that Mr. Xiang Yuan Jiang, previously Executive Vice President of the Company's Shanghai office, has been promoted to Chief Investment Officer.
Dr. Donald Gardner, a global education industry veteran, will spearhead the overall development and operations of ChinaCast's international higher education division. This includes cultivating partnerships with international education institutions, developing student and teacher exchange programs and selecting key individuals to build out an effective international team. Prior to joining ChinaCast, Dr. Gardner taught at a number of graduate schools and universities throughout Asia and the United States, including Hong Kong Baptist University, Hong Kong Theological Seminary, Asia Graduate Theological Seminary, Malaysian Theological Seminary, Chung Yuan University, William Jewell College and Dallas Baptist University. He also served on a number of academic committees and in various administrative roles within the aforementioned schools. Dr. Gardner holds a Bachelor of Science Degree from Dallas Baptist University and has both a Master's and Doctorate Degree from Southwestern Theological Seminary in Fort Worth, Texas.
"We are privileged to have a seasoned education professional like Dr. Gardner join our management team," said Ron Chan, Chairman and CEO of ChinaCast. "I am confident he will make significant contributions to the Company, especially in our global education partnerships for our universities and e-Learning businesses, for which we see attractive growth opportunities."
As Chief Investment Officer, Mr. Xiang Yuan Jiang will oversee all aspects of the Company's merger and acquisition strategies, including strategic business development, due diligence, deal negotiations and financing. Mr. Jiang joined ChinaCast in 2001 as Finance Director in the Company's Shanghai office and was promoted to Executive Vice President of Finance in 2005. Mr. Jiang holds a Bachelor of Arts degree from Shanghai Institute of Foreign Trade and a Master's in Business Administration degree from Macau University of Science and Technology. From 1993 to 1994, Mr. Jiang completed the International Business Management Program of the University of California at Los Angeles. He also currently serves as a Researcher for the Center of Chinese Business Studies at Fudan University in Shanghai and as an Associate Researcher for the China National High Technology Industrialization Organization.
Mr. Chan added, "I am also pleased to announce the promotion of Mr. Jiang, who has over 20 years of experience in the finance industry in China, to the new post of Chief Investment Officer. He has contributed greatly to the growth of the Company over the past 8 years and his industry knowledge and successful track record will be of great value as we pursue our merger and acquisition growth strategies."
About ChinaCast Education Corporation
Established in 1999, ChinaCast Education Corporation is a leading for-profit, post-secondary education and e-Learning services provider in China. The Company provides post-secondary degree and diploma programs through its two universities in China: The Foreign Trade and Business College of Chongqing Normal University and the Lijiang College of Guangxi Normal University. These universities offer fully accredited, career-oriented bachelor's degree and diploma programs in business, economics, law, IT/computer engineering, hospitality and tourism management, advertising, language studies, art and music. The Company provides its e-Learning services to post-secondary institutions, K-12 schools, government agencies and corporate enterprises via its nationwide satellite/fiber broadband network. These services include interactive distance learning applications, multimedia education content delivery, English language training and vocational training courses. The Company is listed on NASDAQ with the ticker symbol CAST.
Safe Harbor Statement
This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of future performance, statements of management's plans and objectives, future contracts, and forecasts of trends and other matters. These projections, expectations and trends are dependent on certain risks and uncertainties including the risk factors listed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Forward-looking statements speak only as of the date of this filing, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate," "estimate," "expect," "believe," "will likely result," "outlook," "project," and other words and expressions of similar meaning. No assurance can be given that the results in any forward-looking statements will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: ChinaCast Education Corporation
CONTACT: ChinaCast Education Corporation Michael J. Santos, Chief Marketing Officer +1-347-482-1588 mjsantos@chinacasteducation.com www.chinacasteducation.com HC International Ted Haberfield, Executive Vice President +1-760-755-2716 thaberfield@hcinternational.net
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