VNET Group, Inc. (Nasdaq: VNET) 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."
Tweet
Share
E-mail