Ambow Instruction Appoints Regional CFO for its U.S. Existence

BEIJING, March 8, 2021 /PRNewswire/ — Ambow Education Holding Ltd. (“Ambow” or “the Corporation”) (NYSE American: AMBO), China’s leading service provider of instructional and job enhancement providers, nowadays declared the appointment of Mr. Kevin Derrivan, a seasoned finance govt, as its regional chief fiscal officer (“CFO”) for its U.S. functions.

In this position, Mr. Derrivan will be the architect of Ambow’s U.S. shared service middle (“middle”) for Ambow’s U.S. member institutions and other compact schools. The middle will leverage Ambow’s patent systems to deliver them a collection of support features including facts technology, accounting & finance and human sources to more lessen their functioning and teaching fees, as very well as increase operating performance and student’s fulfillment.

Mr. Derrivan has a very long and distinguished career in finance and functions, with a solid target in increased education and learning in excess of the past ten years. Drawing on a lot more than 25 years’ finance and accounting knowledge, Mr. Derrivan has particular experience in strategic setting up, budgeting & forecasting, financial reporting, and technique implementation.

Prior to joining Ambow in 2020, Mr. Derrivan held the place of Chief Monetary Officer and Main Working Officer at Sattler Faculty, in which he was liable for campus setting up, services, finance, human methods and enrollment administration. In addition, as a school member, he taught a range of finance and accounting courses, with a distinct desire in the social entrepreneurship.

“We are extremely thrilled to have Kevin be part of our U.S. group. His comprehensive expertise of finance and operations, coupled with his large vary of experience, will deliver eyesight, innovation, and strategic considering, to his build-out of a most effective-in-class shared provider corporation.  In the pursuit of revamping bigger schooling functions, Ambow’s shared provider heart will supply vital again business office infrastructure products and services to not only our member institutions but also other tiny colleges in the U.S,” mentioned Dr. Jin Huang, President and Main Govt Officer of Ambow.

“This is a tremendous possibility to be component of this international enterprise at a time when it is strategically meaningful to reinforce its functions in new and innovate methods,” mentioned Mr. Kevin Derrivan. “I glimpse ahead to transferring Ambow’s shared assistance initiative forward.”

About Ambow Schooling Keeping Ltd.

Ambow Schooling Keeping Ltd. is a foremost countrywide service provider of educational and career improvement expert services in China, supplying large-top quality, individualized providers and solutions. With its considerable network of regional provider hubs complemented by a dynamic proprietary discovering system and distributors, Ambow presents its products and services and goods to students in 15 out of the 34 provinces and autonomous areas within just China.

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Safe and sound Harbor Assertion

This announcement consists of forward-on the lookout statements. These statements are manufactured beneath the “secure harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These ahead-wanting statements can be discovered by terminology this sort of as “will,” “expects,” “anticipates,” “long term,” “intends,” “programs,” “believes,” “estimates” and comparable statements. Amid other matters, the outlook and quotations from management in this announcement, as well as Ambow’s strategic and operational ideas, incorporate forward-looking statements. Ambow might also make written or oral forward-hunting statements in its experiences filed or furnished to the U.S. Securities and Exchange Commission, in its once-a-year stories to shareholders, in press releases and other published components and in oral statements designed by its officers, directors or staff to 3rd functions. Forward-on the lookout statements require inherent pitfalls and uncertainties. A amount of things could lead to actual results to differ materially from those people contained in any ahead-searching statements, which includes but not constrained to the adhering to: the Company’s targets and approaches, growth options, the predicted expansion of the written content and application shipping products and services market, the Company’s anticipations about keeping and strengthening its interactions with its customers, and the normal financial and small business circumstances in the areas exactly where the Organization presents its answers and expert services. Additional info concerning these and other hazards is provided in the Firm’s filings with the U.S. Securities and Trade Fee. All data provided in this press release is as of the date of this press launch, and Ambow undertakes no obligation to update this kind of facts, except as essential less than relevant regulation.

For trader and media inquiries make sure you contact:

Ambow Schooling Keeping Ltd.
Tel: +86 10-6206-8000

The Piacente Team | Investor Relations
Tel: +1 212-481-2050 or +86 10-6508-0677
Electronic mail: [email protected] 

Supply Ambow Schooling Keeping Ltd.

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