East Buy, a subsidiary of Chinese private tutoring company New Oriental Education, announced the removal of Sun Dongxu from the positions of Executive Director and CEO on Saturday following a dispute involving popular livestreamer Dong Yuhui that intensified this week and resulted in a significant drop in the company’s stock price, reported Global Times. New Oriental Chairman Yu Minhong will assume the position of CEO at East Buy, the company stated.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on EDU:
- New Oriental Education initiated with a Buy at Goldman Sachs
- Morgan Stanley Says China’s Education Industry Looks Appealing Right Now — Here Are 2 Stocks to Bet on It
- New Oriental Education initiated with an Overweight at Morgan Stanley
- New Oriental Education price target raised to $87 from $71 at UBS
- New Oriental Education reports Q1 EPS $1.13, consensus 81c
