TAL Education Group announced the appointment of each of Dr. Kaifu Zhang and Dr. Yachao Liu to TAL's board of directors and the resignation of each of Mr. Wei Wang and Mr.Joseph Kauffman from his post as a director of the Company, all effective October 17, 2016. As board director, Dr. Kaifu Zhang will also serve as a member of the compensation committee, a member of the audit committee and the chairman of the nominating and corporate governance committee of the Company's board of directors, to replace Mr. Wei Wang's positions at these committees. Dr. Zhang is assistant professor of Marketing and the Xerox Junior Chair at the Tepper School of Business, Carnegie Mellon University. Prior to joining CMU, he was assistant professor at Cheung Kong Graduate Schools of Business in China. His research interests include the economics of multi-sided markets, business model design for on-line platforms, and the use of big data and machine learning in econometrics. He has consulted for and offered executive training at a number of tech firms in Europe, US and China.