Toby Chu - Chairman, President and Chief Executive Officer of CIBT Education Group Inc.
Mr. Toby Chu is the founder, President and Chief Executive Officer and Vice Chairman of CIBT Education Group Inc. (“CIBT”) headquartered in Vancouver, Canada. Mr. Chu founded CIBT in 1994 and has since developed the company into an international corporation with 44 offices in Canada, China, Philippines, and other Asian countries.
In 1994, Mr. Chu implemented CIBT’s China expansion plan by establishing CIBT School of Business & Technology Corp in Beijing. CIBT owns and operates a chain of campuses, teaching centres, joint program locations and recruitment offices globally offering business, technology, vocational trade, health care, travel tourism management and automotive maintenance programs in cities across Asia.
In 2004, Mr. Chu structured the acquisition of Beihai International College from Weifang University (“WFU”). WFU is the largest state-owned university in Weifang city, Shandong province with a population of 90 million people. In 2005, Mr. Chu was appointed the honorary president of Weifang University by the Chinese government.
To realize his vision of delivering western education to emerging Asia, Mr. Chu structured the acquisition of Sprott-Shaw Community College in 2007, the largest private career and degree-granting college in Western Canada since 1903 with 17 campuses worldwide. Sprott-Shaw became the core infrastructure, academic resource and content provider for CIBT Education Group.
In 2010, Mr. Chu structured the acquisition of King George International College (“KGIC”) for 4.3 million dollars. KGIC is one of the largest English language training schools in Canada. KGIC became the group’s rudimentary English training provider, global recruitment channel and international pipeline for CIBT Group’s network of career and degree-granting colleges in China and Canada. After three years of reorganization, Mr. Chu sold KGIC for 13.5 million dollars. In 2017, Mr. Chu re-acquired all the assets of KGIC the second time in 5 years for 3.1 million dollars.
In 2014, Mr. Chu initiated the student-housing division of the company by acquiring several hotels, serviced apartments and development properties within three years. Due to the pipeline of domestic and international students owned by CIBT’s education platform, the student housing business grew exponentially in a few short years. Total real estate portfolio grew to $600 million and generated over $14 million of annual rental income by 2018. Real estate value also appreciated by $134 million as of August of 2017.
Mr. Chu is the recipients of numerous prestigious awards. In 1993, Mr. Chu was named the “Top 40 Business People under the Age of 40.” In 1994, Mr. Chu became the top 30 finalists among 300 nominees across Canada for the Entrepreneur of the Year Award. In 2015, Mr. Chu earned the Entrepreneur of the Year Award by the Association of Chinese Canadian Entrepreneurs. Under Mr. Chu’s management CIBT earned the following recognitions during the past two decades:
- Top 100 Fastest Growing Companies in Canada in 1993, 2003, 2009, 2010, 2011, 2012, 2013, ranked by Profit Magazine
- Top 100 Public Companies in British Columbia since 2008 to 2018, ranked by Business in Vancouver newspaper
- Succeeding Profiles of Chinese Canadian Entrepreneurs by the Asia Pacific Foundation
- Top 2 Best International Prep College in China by sohu.com
- Top 5 Sino-Foreign Colleges in China by edu.qq.com
- Top 10 Most Influential Sino-Foreign MBA Programs in China by China’s Executive Weekly Magazine
- Top 5 TSX-Venture Listed Companies by the TSX-Venture Exchange in 2008
- Top 500 Largest Publicly Traded Companies across Canada by Report on Business magazine
- Ranked in 8th position on the OCTQX’s 2018 Best 50 top performing companies
Morris Chen - Director
Mr. Morris (Mao-Hua) Chen is a seasoned business executive with over 20 years of real estate development experience in China and Canada. In addition to managing his real estate development company, Morrison Development Group Ltd, Mr. Chen also serves on the board of Wealth One Bank of Canada. Wealth One Bank is a federally chartered Schedule One Bank under the Bank Act regulated by the Office of the Superintendent of Financial Institutions (OSFI).
During the past two decades, Mr. Chen developed many landmark luxury hotel resorts, large residential communities and institutional projects in China and Canada. Some notable projects include Shanxi University Library, Shanxi University Performing Arts Centre, Shanxi Experimental Secondary School new campus, Yin Jia Castle Village, Fen He 360 Project, Pengzhou MuDan Five Star International Hotel, Pengzhou MuDan Residential Towers, and the Sichuan Minjiang Yuan International Hotel (aka “Nine Villages”). In 2007, Mr. Chen expanded his portfolio to North America with extensive investments in public company securities, technology development and real estate holdings in Washington State, Metro Vancouver and Las Vegas. In addition to his holdings, Mr. Chen is a partner in Jingon International Development Group LLP. Through this partnership, Mr. Chen owns nineteen acres of waterfront property in Richmond, B.C. This project is a future master-planned community designed for hotels, shopping centres, entertainment themed park and convention centre.
Today, Mr. Chen’s company employs over 3,000 staffs, with capital assets of $87 million and annual revenue of $ 91 million (500 million RMB).
Mdm. May Hsu - Director
Ms. Hsu was the Acting Secretary of State for California in 1990, and Senior Consultant to Zhuhai New Hi-Tech Industries Development Zone in China in 1997. She was the President of China E-Commerce Association North American Chapter, and also served as Advisor to Suzhou Machinery Holding (Group) Co. Ltd. in China in 1999.
Ms. Hsu has over 20 years of experience in market research, business development, management consulting and marketing for international businesses. Her experience includes identifying and securing high-profile clients and conducting market research for firms such as Multi-Fineline Electronix Inc., a high-tech manufacturing company with nearly 4,000 employees in the United States and China. Ms. Hsu also assists North American firms to expand their presence to Asia and helps Chinese companies to set up businesses in the United States.
Ms. Hsu is an affiliate of many charitable organizations in California, including the Young Generation Asian Professionals, Asian American Senior Citizens Service Center, Bowers Museum and Pan Pacific Performing Arts.
Troy Rice - Independent Audit Committee Chairman
Mr. Rice has been a director of CIBT Education Group since 2005. He is also a director of CIBT. From 2002 to 2005, Mr. Rice served as Senior Vice President of Business Development at Universal Technical Institute, Inc. (NYSE: UTI), an automotive repair education company. From 2001 to 2002 Mr. Rice was Vice President at PetSmart, Inc. (NASDAQ: PETM), a supplier of pet supplies and products, and from 1995 to 2001, he was a Senior Vice President of Comfort Systems U.S.A. (NYSE: FIX). Mr. Rice received his Bachelors degree in accounting from the University of Iowa in 1985 and his MBA from Arizona State University in 1992. Mr. Rice is also a CPA in the state of Arizona.
Shane Weir - Independent Director
Mr. Weir has been a director of CIBT Education Group Inc. since 2008. Mr. Weir became a solicitor, barrister and notary public in Canada in 1978. He was admitted to the bars in England and Wales and in Hong Kong as a solicitor in 1992. He works as a solicitor at the law firm Weir & Associates in Hong Kong, a firm he organized in 1985. From 1989 to 1992, Mr. Weir was director of L&D Property Limited, a real estate brokerage firm in Hong Kong. He has lectured in both Canada and Hong Kong at the university level. Mr. Weir is also a registered investment advisor and is a director of Asia Pacific Investment Advisors Ltd., an investment management firm in Hong Kong, and e-Kong Group Limited, a company with operations in the telecommunications and technology industries in the United States, China, Hong Kong and Singapore.
Tony David - Independent Director
Mr. David has been a director of CIBT Education Group since 1998. From 1979 to present Mr. David has been self employed as an oral maxillofacial surgeon. He is a member of the Canadian Association of Oral and Maxillofacial Surgeons, the BC Association of Oral and Maxillofacial Surgeons, and the College of Dental Surgeons. Mr. David has a Master of Science degree in Physiology from the University of Oregon, and a Doctorate in Dental Medicine from the Washington University School of Dental Medicine in St. Louis, Missouri.
Derek Feng - Independent Director
Mr. Feng was appointed as director of CIBT Education Group Inc. by the Board of Directors effective July 20, 2011. He is an independent consultant providing advisory services relating to merger, acquisition, IPO, and other corporate finance activities to growth companies. Mr. Feng is also an investor and advisor to education companies that have significant growth opportunities, benefiting from the increasing globalization of education between Asia and North America.
Prior to July 2016, he was the Head of Education Investment of Fosun Group headquartered in Shanghai. Fosun Group is a conglomerate listed on the Hong Kong Stock Exchange with asset holdings around the world. Prior to joining Fosun Group, he was the CEO of Global Education & Technology Group from 2014 to 2016. Global Education is one of the largest education companies in China with over 3,000 employees. From 2012 to 2014, Mr Feng was retained by a group of institutional investors to become Chairman/Interim CEO of ChinaCast Education Corporation. His duties were to re-organize and re-structure ChinaCast and develop exit strategies for investors. From 2006 to 2011, Mr. Feng was the Executive Vice President of Strategy, Planning and Operations at Knowledge Universe, one of the largest education holding companies in the world with a network of more than 3,000 locations worldwide, over 40,000 education professionals, operating early childhood education centers, international schools, colleges, large online schools, and management systems. Prior to joining Knowledge Universe, he was the Global Head of Business Development at GE Industrial, a US$33 billion revenue division that has operating businesses ranging from high tech instruments to equipment leasing. Mr. Feng was also an officer of GE Capital Corporation, the largest non-bank financial services company in the world with over US$600 billion in assets.
Mr. Feng graduated from Tsinghua University of Beijing with a Bachelor of Science degree in Electrical Engineering, followed by a Master of Business Administration degree from UCLA, California.