Stock Track | GDS Holdings Plummets 5.91% Intraday Following Board Reshuffle as Veteran Director Exits

Stock Track

05/20

Shares of GDS Holdings Ltd (GDS) plummeted 5.91% during intraday trading on Wednesday, sharply reversing earlier gains.

The sudden decline followed the company's announcement of a significant board reshuffle. Mr. Lim Ah Doo, a long-serving independent director and Chairman of the Audit Committee, resigned for personal reasons after an 11-year tenure during which he was credited with strengthening corporate governance and audit standards. The board appointed Ms. Hua (Kathy) Chen, a seasoned financial executive, as his successor.

This governance change appears to have unsettled investors, overshadowing the company's earlier release of positive first-quarter earnings and full-year revenue guidance that was largely in line with analyst expectations.

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