RISE Education Cayman Ltd. announced the appointment of Ms. Lihong Wang, the Chairwoman of its board of directors, as its new chief executive officer ("CEO") to replace Mr. Yiding Sun, who will retire as CEO but remain on the board as Vice Chairman. Ms. Wang has been a director of RISE since September 2013 and was appointed Chairwoman in October 2017. Prior to her appointment as CEO, Ms. Wang served as a Managing Director at Bain Capital.

While at Bain Capital, Ms. Wang was responsible for many of the firm's investments in China, including Gymboree and RISE. Over the last five years, she also assumed responsibility for Bain Capital's portfolio management activities in China. She holds an MBA degree from Columbia Business School and a BSc degree from Fudan University.

The board of directors of RISE has reappointed Mr. Jia Zhu as a director and as Chairman of its corporate governance and nominating committees, replacing Ms. Wang. Mr. Zhu is Co-head of Bain Capital Asia Private Equity. Mr. Zhu previously served on the RISE board from September 2013 to October 2017.

Mr. Zhu holds a JD degree from Cornell Law School, an MA degree from Nanjing University, and a BA degree from Zhengzhou University.