21Vianet Group Announces Addition to the Board of Directors

21Vianet Group Inc (NASDAQ:VNET) a leading carrier neutral internet data center services provider in China announced that its Board of Directors appointed Yao Li as an independent director and a member of the company’s compensation committee.

As quoted in the press release:

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.”

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