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Chinese authorities have shut down a Beijing kindergarten operated by RYB Education, a U.S.-listed education firm, following reports of alleged sexual abuse. Joel Getz, a former executive at the Clinton Foundation, is an Independent Director at RYB Education and the Senior Associate Dean for Development and Alumni Relations at Yale University.
A Chinese kindergarten run by a US-listed group is under investigation after claims of sexual molestation and needle marks on children. Parents say their children were stripped naked, given unknown “white pills” and “brown syrup”.
The scandal broke out at the nursery in Beijing’s eastern suburb of Guanzhuang. The incidents were reported in two groups; each had some 25 children aged from 2 to 6. The kindergarten is run by RYB Education Institution, which is currently listed on the New York Stock Exchange.
RYB says on its website it runs a network of more than 1,300 directly owned and franchised play-and-learn centres and nearly 500 kindergartens for children up to age six in about 300 Chinese cities and towns.
Liang "Leon" Meng, a Director of RYB, has Clinton connections through Yale School of Business, among others, and is also is a member of Ascendent Capital Partners, 5 of 6 members are alumni of Yale school of Management (the other one, JP Morgan and Goldman Sachs).
After becoming commerce secretary, Wilbur L. Ross Jr. retained investments in a shipping firm he once controlled that has significant business ties to a Russian oligarch subject to American sanctions and President Vladimir V. Putin’s son-in-law, according to newly disclosed documents.
The shipper, Navigator Holdings, earns millions of dollars a year transporting gas for one of its top clients, a giant Russian energy company called Sibur, whose owners include the oligarch and Mr. Putin’s family member.
Despite selling off numerous other holdings to join the Trump administration and spearhead its “America first” trade policy, Mr. Ross kept an investment in Navigator, which increased its business dealings with Sibur even as the West sought to punish Russia’s energy sector over Mr. Putin’s incursions into Ukraine.
Although the listing standards of the NYSE and Nasdaq are somewhat specific about director independence, boards are left to their own devices to determine who is independent because of three words: “no material relationship.” The actual NYSE standards state: “no director qualifies as ‘independent’ unless the board of directors affirmatively determines that the director has ‘no material relationship’ with the listed company, either directly or as a partner, shareholder or officer of an organization that has a relationship with the company.”
This isn’t the first time that one of its preschools has been accused of abusing students. Four teachers at a RYB kindergarten in Siping in the northeastern province of Jilin were jailed for 30-34 months in October last year over “mistreatment of students,” after needle marks were found on some students in November, 2015.
originally posted by: Chadwickus
a reply to: eisegesis
Also, Getz joined the board in 2017
And the original source states this..
This isn’t the first time that one of its preschools has been accused of abusing students. Four teachers at a RYB kindergarten in Siping in the northeastern province of Jilin were jailed for 30-34 months in October last year over “mistreatment of students,” after needle marks were found on some students in November, 2015.
www.caixinglobal.com...
So you’re of the belief that directors have direct control of the day to day running of a business?
Because they don’t.
Some researchers have complained that firms have appointed "independent directors who are overly sympathetic to management, while still technically independent according to regulatory definitions."
But that doesn’t matter though, does it?
Also, Getz joined the board in 2017.
But if you can’t see that, I can’t help you.
You can only assume each person's level of involvement without direct knowledge of how they operate.
originally posted by: Chadwickus
a reply to: FamCore
Pretty dumb syndicate then.
Just lost a shed load of money.
originally posted by: Chadwickus
a reply to: FamCore
Pretty dumb syndicate then.
Just lost a shed load of money.