TCTM Announces the Appointments of Mr. Heng Wang as Chief Executive Officer and Mr. Robert L. Angell as Chief Technology Officer

Rhea-AI Summary

TCTM Kids IT Education (NASDAQ: TCTM) has announced key leadership changes effective February 28, 2025, as part of its strategic expansion into the AI-driven technology sector. The company appointed Mr. Heng Wang as CEO, bringing over 30 years of financial industry experience, particularly in financial technologies and IT strategy. Wang previously held positions at Charles Schwab and TD Ameritrade.

Additionally, Dr. Robert L. Angell joins as CTO, bringing expertise in healthcare AI, predictive analytics, and data science. Dr. Angell's background includes founding roles at EmbraceNFT.io, Applied Quantum Solutions, and Applied Data Sciences. The company also announced the re-designation of Mr. Xiaolan Tang as CFO.

Positive

• Strategic expansion into AI-driven technology sector
• Appointment of CEO with 30+ years fintech experience
• Addition of CTO with strong AI and data science expertise

Negative

• Significant leadership restructuring may cause temporary operational disruption
• Potential risks in strategic shift from core STEM education business

BEIJING, March 3, 2025 /PRNewswire/ -- TCTM Kids IT Education Inc. (NASDAQ: TCTM) ("TCTM" or the "Company"), a leading provider of IT-focused supplementary STEM education services in China, today announced that the board of directors of the Company has approved the re-designation of Mr. Xiaolan Tang as the chief financial officer, and the appointments of Mr. Heng Wang as the chief executive officer and Mr. Robert L. Angell as the chief technology officer of the Company, in each case effective February 28, 2025, as part of the Company's effort to expand into AI driven technology sector.

Mr. Heng Wang has served as the senior manager at Charles Schwab Corporation, a company focusing on providing brokerage, banking and financial advisory services, from October 2020 to March 2024. Prior to that, Mr. Wang served as a consultant at TD Ameritrade Inc., a stockbroker, from July 2006 to October 2020. Mr. Wang also served as a board member and chair of the nominating and corporate governance committee at Singularity Future Technology Ltd. (NASDAQ: SGLY), an integrated logistics solutions provider, from November 2021 to September 2023. Mr. Wang has over 30 years of experience in the financial industry, specializing in financial technologies, IT strategy and compliance. Mr. Wang received a bachelor's degree in computer science from Fudan University in 1990 and a master's degree in computer information science from the New Jersey Institute of Technology in 1991.

Dr. Robert L. Angell currently serves as an advisory board member at the Brain Injury Research Foundation, a foundation focusing on brain injuries, since August 2021. Since January 2021, Dr. Angell has been serving as the chief executive officer and co-founder of EmbraceNFT.io, a non-fungible token platform. In addition, Dr. Angell is also the principal and founder of Applied Quantum Solutions, LLC and Applied Data Sciences, LLC, both data science companies, since September 2020. Dr. Angell has been an advisory board member at Health Data Scientist Association, an organization focusing on health, medical and nursing care related businesses, since April 2019. Since January 2018, Dr. Angell has been serving as the principal and founder of CoMorbus, a public health provider, and a senior data scientist at Cognitech Corporation, a software developer. Previously, Dr. Angell served as an independent advisory board member at Meta Data Limited and NEO Technology Acquisition Corp. Dr. Angell is an expert in healthcare AI, predictive analytics, temporal medicine, and data science. Dr. Angell received a Bachelor of Science degree in Industrial Engineering and a Ph.D. in Biomedical Informatics from the University of Utah.

About TCTM Kids IT Education Inc.

TCTM is a leading provider of IT-focused supplementary STEM education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, TCTM offers IT-focused supplementary STEM education programs, including computer coding and robotics programming courses, etc., targeting students between three and eighteen years of age. Aiming to encourage "code to learn," TCTM embraces the latest trends in STEM education and technology to develop children's logical thinking and learning abilities while allowing them to discover their interests and potential.

Safe Harbor Statement

This current report contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. TCTM may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about TCTM's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements.

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SOURCE TCTM Kids IT Education Inc.

FAQ

What strategic changes did TCTM announce in its March 2025 leadership restructuring?

TCTM announced three key leadership changes: Heng Wang as CEO, Robert L. Angell as CTO, and Xiaolan Tang's re-designation as CFO, effective February 28, 2025.

What is TCTM's new strategic direction following the March 2025 appointments?

TCTM is expanding into the AI-driven technology sector, moving beyond its core business of IT-focused supplementary STEM education services in China.

What experience does TCTM's new CEO Heng Wang bring to the company?

Wang brings 30+ years of financial industry experience, specializing in financial technologies and IT strategy, with previous roles at Charles Schwab and TD Ameritrade.

What expertise does TCTM's new CTO Robert Angell bring to the company?

Dr. Angell brings expertise in healthcare AI, predictive analytics, and data science, with experience founding multiple data science companies and NFT platforms.