Baidu Announces Management Changes
January 08 2010 - 6:00AM
PR Newswire (US)
BEIJING, Jan. 8 /PRNewswire-Asia/ -- Baidu, Inc. (NASDAQ:BIDU), the
leading Chinese language Internet search provider, today announced
several changes in senior management. (Logo:
http://www.newscom.com/cgi-bin/prnh/20081103/BAIDULOGO ) Mr. Haoyu
Shen, vice president of business operations, has been promoted to
senior vice president. Mr. Zhan Wang, senior director of business
products, has been promoted to vice president. Baidu also announced
the resignation of Chief Operating Officer Dr. Peng Ye. Dr. Ye's
resignation is due to personal reasons and is effective as of the
date of this announcement. Haoyu Shen joined Baidu in 2007 and has
led the planning and execution of the company's search engine
marketing platform and associated business alliances. Zhan Wang
joined Baidu in 2000 and has been a key driver of the company's
commercial product developments. "Haoyu and Zhan have proven track
records in driving our business success and I am excited to see
them make further contributions in their expanded roles," said
Robin Li, Baidu's chairman and chief executive officer. "We thank
Peng for his contributions to the company over the last two years
and wish him all the best in his future endeavors," Mr. Li added.
About Baidu Baidu, Inc. is the leading Chinese language Internet
search provider. As a technology-based media company, Baidu aims to
provide the best way for people to find information. In addition to
serving individual Internet search users, Baidu provides an
effective platform for businesses to reach potential customers.
Baidu's ADSs, each of which represents one Class A ordinary share,
are currently trading on the NASDAQ Global Select Market under the
symbol "BIDU." Safe Harbor Statement This announcement contains
forward-looking statements. These statements are made under the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "confident"
and similar statements. Statements that are not historical facts,
including statements about Baidu's beliefs and expectations, are
forward-looking statements. Among other things, quotations from
management in this announcement contain forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties
that could cause actual results to differ materially from those
contained in any forward- looking statements. A number of factors
could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: our growth strategies; our future
business development, including development of new products and
services; our ability to attract and retain users and customers;
competition in the Chinese and Japanese language Internet search
markets; competition for online marketing customers; changes in our
revenues and certain cost or expense items as a percentage of our
revenues; the outcome of ongoing, or any future, litigation or
arbitration, including those relating to intellectual property
rights; the expected growth of the Chinese language Internet search
market and the number of Internet and broadband users in China;
Chinese governmental policies relating to the Internet and Internet
search providers and general economic conditions in China, Japan
and elsewhere. Further information regarding these and other risks
is included in our annual report on Form 20-F and other documents
filed with the Securities and Exchange Commission. All information
provided in this press release is as of January 6th, 2010, and
Baidu undertakes no duty to update such information, except as
required under applicable law. For investor inquiries please
contact: In China: Mr. Victor Tseng Baidu, Inc. Tel:
+86-10-5992-7244 Email: Ms. Cynthia He Brunswick Group LLC Tel:
+86-10-6566-9504 Email: In the U.S.: Ms. Kate Tellier Brunswick
Group LLC Tel: +1-212-333-3810 Email:
http://www.newscom.com/cgi-bin/prnh/20081103/BAIDULOGO DATASOURCE:
Baidu, Inc. CONTACT: In China, Victor Tseng, Baidu, Inc.,
+86-10-5992-7244, , or Cynthia He, Brunswick Group LLC,
+86-10-6566-9504, ; In the U.S., Kate Tellier, Brunswick Group LLC,
+1-212-333-3810, Web site: http://www.baidu.com/
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