Puxin Limited announced the appointment of Dr. Neng Wang as an independent director, effective February 2, 2019. Dr. Wang will serve as a member of the Nominating and Corporate Governance Committee of the Board of Directors "the Board). Dr. Wang currently serves as Chong Khoon Lin Professor of Real Estate and Finance at Columbia Business School. He is also the Honorary Dean and Academic Director of the School of Finance, Shanghai University of Finance and Economics (SUFE), and a Research Associate at the National Bureau of Economic Research (NBER). He was also a special-term professor at Cheung Kong Graduate School of Business (CKGSB), Guanghua School of Management at Peking University, Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiaotong University (SJTU), and the School of Economics, Zhejiang University. Dr. Wang replaces Ms. Xiaoxiao Liu, who has served as a director since 2018 and an independent director on the Board since the initial public offering of the Company. Ms. Liu resigned from that position concurrently with Dr. Wang's appointment due to personal reasons.