VANCOUVER, July 20, 2011 /PRNewswire/ - CIBT Education
Group Inc. (NYSE AMEX: MBA) (TSX: MBA) ("CIBT Group") is
pleased to announce the appointment of Mr. Derek Feng to the Board of Directors.
Mr. Feng graduated from Tsinghua University in
China with a Bachelor of Science
degree in Electrical Engineering, followed by a Master of Business
Administration degree from University of
California, Los Angeles in 1992. Between 1992
and 1999, Mr. Feng held several finance and operational roles at
Enron, worked in an investment banking firm, and was a manager in
the strategic planning group at United Technologies
Corporation.
In 1999, Mr. Feng joined the General Electric
Company ("GE") in Connecticut as
Manager of Americas Business Development at GE Capital, and was
later promoted to the position of Managing Director, Global
Business Development at GE Equipment Management, and then further
promoted to General Manager, Global Business Development at GE
Infrastructure. Two years later, Mr. Feng became the Global
Head of Business Development at GE Industrial, a US$33 billion revenue division that has operating
businesses ranging from high tech instruments to equipment
leasing. Mr. Feng was also an officer of GE Capital
Corporation, the largest non-bank financial services company in the
world with over US$600 billion in
assets. During his tenure at GE, he evaluated hundreds of
acquisitions, dispositions, minority investments and joint venture
opportunities globally and completed over US$10 billion worth of transactions. In
addition, he oversaw a number of strategy projects ranging from
growth to restructuring as well as joint ventures.
In 2006, Mr. Feng left GE and became the
Executive Vice President of Strategy, Planning and Operations at
Knowledge Universe, one of the largest education holding company in
the world with a network of more than 3,000 locations worldwide,
employing over 40,000 education professionals, operating early
childhood education centers, international schools, colleges, large
on-line schools and school management systems.
In 2011, Mr. Feng left Knowledge Universe to
become an investor and advisor to education companies that have
significant growth opportunities benefiting from the increasing
globalization of education between Asia and North
America.
CIBT Group welcomes Mr. Feng to the Board and
looks forward to exploring the vast experience and knowledge Mr.
Feng possesses.
The company also announces the resignation of
Mr. David Warnock from its Board of
Directors. The company would like to thank Mr. Warnock for his
service and wishes him the best in his future endeavours.
ON BEHALF OF THE BOARD OF DIRECTORS
"Toby Chu"
Toby Chu
Vice-Chairman, President & CEO
Neither the NYSE Amex nor the
Toronto Stock Exchange accepts responsibility for the
adequacy or accuracy of this news release.
SOURCE CIBT Education Group Inc.