Early Monday, educational services provider New Oriental Education & Technology Group Inc. (EDU) announced the appointment of Louis Hsieh as the president of the company, effective immediately.
Hsieh's positions as the chief financial officer and a board member will remain unchanged from his expanded role as president.
Hsieh joined the Beijing, China-based company as chief financial officer in 2005, and was elected to its board of directors in 2007. Hsieh previously served as Managing Director and Asia-Pacific Technology/Media/Telecom Head for UBS Capital and as an investment banker for JP Morgan and Credit Suisse in the Silicon Valley.
EDU closed Friday's regular trading session at US$51.28.
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