VNET Group (VNET) Announces Board Changes

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. Changqing Ye as an independent director and a member of the audit committee of the Company's board of directors (the "Board"), effective October 31, 2024. Mr. Ye 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 that Mr. Kenneth Chung-Hou Tai, who has served as an independent director of VNET since October 2012, will replace Mr. Ye as a member of the audit committee of the Board, effective October 31, 2024.

"We are grateful to Changqing for his services to VNET throughout his tenure and wish him all the best in his future endeavors," stated Mr. Josh Sheng Chen, Founder, Executive Chairperson and interim Chief Executive Officer of VNET. "Also, we look forward to continuing to work with Kenneth in his new role as a member of the Board's audit committee. We will remain dedicated to pursuing sustainable, high-quality growth in the long run."

Following the aforementioned changes, the Board now consists of six directors, including four independent directors. The audit committee of the Board is comprised of Mr. Sean Shao, Mr. Yoshihisa Ueno and Mr. Kenneth Chung-Hou Tai.

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