New Oriental Education and Technology Group Inc. announced that the company's Board of Directors appointed Mr. Chenggang Zhou, the company's current President, as Chief Executive Officer of the company, effective September 2, 2016. Mr. Zhou succeeds Mr. Michael Minhong Yu, Founder, Chairman and Chief Executive Officer, who will become Executive Chairman of the Board and continue to oversee the company's business strategies and operations. Mr. Zhou joined the company in 2000 and since then has held multiple management positions in the company, including President, Executive President for Domestic Business, Executive Vice President, Vice President and President of Beijing and Shanghai New Oriental Schools.