VNET Group announces leadership team changes

VNET Group (VNET) announced that Qiyu Wang has resigned from his position as VNET’s CFO for personal reasons, effective April 30. Wang’s resignation is not due to any disagreement with the Company, nor does it relate to the Company’s operations, policies, practices, accounting matters, or procedures. Josh Sheng Chen, Founder, Executive Chairperson and Interim CEO of VNET, commented, “On behalf of the Company, I would like to thank Qiyu for his contributions during his tenure. His financial discipline and strategic insight have been instrumental to the Company’s growth. We wish him every success in his future endeavors.” In February, the Company announced the appointment of Peter Zhihua Zhang as Senior Vice President, Operational Finance of VNET, to oversee the Company’s financial operations and to serve as the Company’s “principal accounting officer” in accordance with applicable U.S. federal securities laws, SEC rules, and Nasdaq requirements. Since joining VNET in 2019, Zhang has demonstrated extensive expertise in multiple key roles within the Company’s finance operations.