Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

ChinaCast Education Names Derek Feng Chairman, Interim CEO Succeding Ron Chan

ChinaCast Education Corp.'s (CAST: Quote) board had appointed Derek Feng as chairman and interim chief executive officer or CEO, effective immediately, replacing Ron Chan, who was removed by the board from his role as Chairman and CEO. Director Doug Woodrum has been appointed as special advisor to the Chairman. Also, Director Doug Woodrum has been appointed as special advisor to the Chairman.

Feng has served on the company's board since January 2012. At the time of his appointment, Feng was a private investor and an advisor to education companies. From 2006 to 2011, he was the Executive Vice President, Strategy, Planning and Operations at Knowledge Universe. Considering Feng's appointment as interim CEO, director David Gao would replace Feng as a member of ChinaCast's compensation and special committees, the company added.

Click here to receive FREE breaking news email alerts for ChinaCast Education Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Oracle Corp. said Wednesday after the markets closed that its second quarter profit fell 2% from last year, hurt mainly by higher income tax expenses even as revenue increased 3%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Apple's iPhone-based Apple Pay system is gaining momentum nationwide with a host of new banks and retailers signing on. The system allows users to link a credit card directly to their device for payments and Apple now says they have deals with banks that account for 90 percent of the debit card transactions in the US. The current drop in fuel prices could lead to a major sales dip for electric automaker Tesla, according to some industry experts. The Elon Musk led manufacturer had predicted sales of over 500,000 new vehicles by 2020, but now that number could fall by as much as 40 percent.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.