PR Newswire, 1/24/2012
For-profit, post-secondary education and e-learning services provider, ChinaCast Education Corporation (Nasdaq: CAST), has announced that it has expanded its board of directors to seven and appointed Douglas Woodrum to fill the added seat. Woodrum was appointed as the designee of Fir Tree Inc. pursuant to the Letter Agreement, dated June 27, 2008, between Fir Tree and the ChinaCast. Woodrum qualifies as an independent director pursuant to the NASDAQ Listing Rules. Woodrum joins Ron Chan, Derek Feng, Stephen Markscheid, Michael Santos, Ned Sherwood and Daniel Tseung on the ChinaCast board.
Woodrum, a private investor, served from 2006 to 2009 as a research analyst for Jayhawk Capital Management, a private equity firm focusing on investing growth for small- and medium-sized businesses operating in China. From 1998 to 2005, Woodrum was the Chief Financial Officer of CNET Networks, Inc., an online media company, where his responsibilities included raising capital for growth, business model development, financial reporting, annual budgeting, long-term planning, acquisitions, investor relations and tax. Woodrum received his B.B.A. in finance and accounting from the University of Iowa.