21Vianet Group, Inc. Announces Addition to the Board of Directors
Source: Nasdaq GlobeNewswire / 15 May 2018 08:02:32 America/New_York
BEIJING, May 15, 2018 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (Nasdaq:VNET) ("21Vianet" or the "Company"), a leading carrier-neutral Internet data center services provider in China, today announced that its Board of Directors (the “Board”) has appointed Dr. Yao Li as an independent director and a member of the Company’s Compensation Committee, effective immediately. Dr. Yao Li will also act as the Chairman of the Company’s Strategic Advisory Board, which the Board has resolved to establish in order to utilize its members’ experience in the internet infrastructure industry to provide advice on the Company’s business strategies.
Dr. Yao Li has over 23 years’ experience in finance and investment industry, and currently serves as the Chief Investment Officer of Asia for the International Finance Corporation (IFC) of the World Bank Group. Prior to that, he served as the Chief Executive Officer of China-ASEAN Capital Advisory Company Limited and the Chairman of the Investment Committee of China-ASEAN Fund Management Company from mid-2011 to early 2015. Prior to that, Dr. Li was a Co-head of the Investment Banking Business for Bank of China (BOC), where he was responsible for setting up the domestic securities business for BOC. Dr. Li holds a doctorate’s degree in Economics from Renmin University of China.
“On behalf of the Company, I would like to welcome Dr. Li as our new independent director,” Mr. Shiqi Wang, Chief Executive Officer of the Company, commented. “Dr. Li’s extensive knowledge of corporate strategies and capital investment makes him the ideal addition to our Board. Moving forward, we expect our special Strategic Advisory Board to further strengthen our decision making process and help guide our future growth.”
Mr. Josh Chen, Executive Chairman of the Company, stated, “I would like to extend my warmest welcome to Dr. Li and I am confident that his broad experience in capital investment will be a great asset to 21Vianet as we embark on our next stage of growth. As the data center industry has become an integral component of the global internet infrastructure, I believe that Dr. Li’s specific expertise in infrastructure related investment from serving as the Chief Investor Officer at the World Bank Group will bring invaluable benefit to 21Vianet going forward.”
21Vianet Group, Inc. is a leading carrier-neutral Internet data center services provider in China. 21Vianet provides hosting and related services, cloud services, and business VPN services, improving the reliability, security and speed of its customers' Internet infrastructure. Customers may locate their servers and networking equipment in 21Vianet's data centers and connect to China's Internet backbone through 21Vianet's extensive fiber optic network. 21Vianet operates in more than 30 cities throughout China, servicing a diversified and loyal base of nearly 5,000 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," "believes," "estimates" and similar statements. Among other things, quotations from management in this announcement as well as 21Vianet's strategic and operational plans contain forward-looking statements. 21Vianet 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 21Vianet'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: 21Vianet's goals and strategies; 21Vianet's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, 21Vianet's services; 21Vianet's expectations regarding keeping and strengthening its relationships with customers; 21Vianet'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 21Vianet provides solutions and services. Further information regarding these and other risks is included in 21Vianet's reports filed with, or furnished to, the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and 21Vianet undertakes no duty to update such information, except as required under applicable law.
Investor Relations Contacts:
21Vianet Group, Inc.
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