21Vianet Names Tim Chen as Chief Financial Officer

BEIJING, April 29, 2021 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (Nasdaq: VNET) (“21Vianet” or the “Company”), a leading carrier- and cloud-neutral Internet data center services provider in China, announced today that Mr. Tim Chen, Chief Strategy Officer, will assume the role of Chief Financial Officer. Mr. Chen will succeed Ms. Sharon Xiao Liu, who will step down as the Company’s Chief Financial Officer and serve as an advisor to the Company before leaving the Company in June 2021.

The Company also celebrated its 25^th year anniversary and 10 years of being listed on the NASDAQ last week, a testament to its strong growth momentum.

Mr. Josh Chen, Founder and Executive Chairman, said: “It’s an exciting time for 21Vianet, which recently celebrated two important milestones. Tim will continue to support the leadership team and help steer the Company with his deep business insights, experiences and network. We’re extremely grateful to Sharon for her contributions over the years in building 21Vianet to become one of the market leaders in China and wish her the best of luck as she pursues other opportunities.”

Mr. Tim Chen said: “I’m thrilled to continue working with the various teams at 21Vianet to expand our footprint, especially during a critical time for the industry. The market for data centers will increase significantly over the next couple of years, driven by the government’s efforts to make digitization a priority as well as the growing demand from the high-tech and internet industries. 21Vianet will play an increasingly important role in supporting China’s rapid rise in this sector and provide customers and businesses with innovative solutions that improve operations and enhance data science capabilities. Our strategy and goals remain unchanged with our focus on growing our wholesales business and delivery on the 3 year (25,000 cabinets per annum) targets.”

Mr. Chen joined the Company in August 2020 as Chief Strategy Officer. Prior to joining, he spent 14 years in renowned investment banking and private equity firms, including Morgan Stanley and J.P. Morgan, and a private logistics company as Chief Financial Officer. In his new role, he will oversee the Company’s financial, legal, mergers and acquisitions, and investor relations responsibilities. Mr. Chen received a Bachelor of Science degree in Industrial Engineering and Operations Research from Columbia University in New York.