BEIJING, July 30,
2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET)
("VNET" or the "Company"), a leading carrier- and cloud-neutral
internet data center services provider in China, today announced the resignation of Mr.
Erhfei Liu as an independent director of the Company's board of
directors (the "Board"), effective July 24,
2024. Mr. Liu resigned for personal reasons and not due to
any disagreement with the Board, the Company or any of its
affiliates on any matter relating to the Company's operations,
policies or practices.
The Board has approved the appointment of Mr. David Lifeng Chen as a new independent director
of the Board, effective immediately. The Board has reviewed the
independence of Mr. Chen and determined that he satisfies the
"independence" requirements under Rule 10A-3 of the United States
Exchange Act of 1934 and Rule 5605 of the Nasdaq Stock Market
Rules.
Mr. Chen is a seasoned tech entrepreneur, executive, and venture
capitalist with extensive operational and industrial expertise in
both the U.S. and China. Since
2017, he has been serving as an Operating Partner for the Hongshan
CBC Cross-border Digital Fund, a specialized fund dedicated to
assisting global technology companies in entering or restructuring
their operations in China. He has
also been serving on the boards of GitLab China JV since 2021 and
Atos China JV since 2018, respectively. From 2001 to 2012, Mr. Chen
was the Co-Founder, Vice Chairman and President of VanceInfo, which
later merged with HiSoft to form Pactera. Pactera was recognized by
IDC as the largest banking IT services and solutions provider in
China and was ranked among the
global top 100 FinTech companies in 2020. Mr. Chen began his career
in Silicon Valley, holding multiple management and technical
positions at Asera, IBM Crossworlds, KPMG Consulting, and Oracle
from 1995 to 2001. He holds a bachelor's degree in electrical
engineering from Tongji University and a master's degree in
computer engineering from the University of
California, Irvine.
Mr. Josh Sheng Chen, Founder,
Co-chairperson and interim CEO of VNET, commented, "On behalf of
the Company, I would like to extend my gratitude to Erhfei for his
long-term service and valuable insights to VNET during his tenure
on the Board and wish him all the best in his future endeavors. At
the same time, I am pleased to welcome David to the Board. I am
confident that his expertise and insights will be valuable assets
to the Board and help drive the Company's sustainable, high-quality
development."
About VNET
VNET Group, Inc. is a leading carrier- and cloud-neutral
internet data center services provider
in China. VNET provides hosting and related
services, including IDC services, cloud services, and business VPN
services to improve the reliability, security, and speed of its
customers' internet infrastructure. Customers may locate their
servers and equipment in VNET's data centers and connect to
China's internet backbone.
VNET operates in more than 30 cities throughout China,
servicing a diversified and loyal base of over 7,500 hosting and
related enterprise customers that span numerous industries ranging
from internet companies to government entities and blue-chip
enterprises to small- to mid-sized enterprises.
Safe Harbor Statement
This announcement contains forward-looking statements. These
forward-looking statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "target," "believes," "estimates" and similar
statements. Among other things, quotations from management in this
announcement as well as VNET's strategic and operational
plans contain forward-looking statements. VNET 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 reports to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements
about VNET's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: VNET's goals and
strategies; VNET's liquidity
conditions; VNET's expansion plans; the expected growth
of the data center services market; expectations regarding demand
for, and market acceptance
of, VNET's services; VNET's expectations
regarding keeping and strengthening its relationships with
customers; VNET's plans to invest in research and
development to enhance its solution and service offerings; and
general economic and business conditions in the regions
where VNET provides solutions and services. Further
information regarding these and other risks is included
in VNET's reports filed with, or furnished to,
the U.S. Securities and Exchange Commission. All information
provided in this press release is as of the date of this press
release, and VNET undertakes no duty to update such
information, except as required under applicable law.
Investor Relations Contact:
Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com
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SOURCE VNET Group, Inc.