Baidu Announces Resignation of CTO
BEIJING, Oct 24, 2006 /Xinhua-PRNewswire via COMTEX News Network/ -- Baidu.com, Inc. (Nasdaq: BIDU), the leading Chinese language Internet search provider, today announced the resignation of Jerry Liu as Chief Technology Officer (CTO), effective as of December 19, 2006.
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"Under Jerry's management, our technology team has attracted outstanding personnel and been at the forefront of online search technology in China," said Robin Li, Baidu's Chairman and CEO. "We wish Jerry all the best in his future endeavours."
"It has been a great privilege to play a role in making Baidu the leader in Chinese search," said Jerry Liu. "With one of the best technology teams in the internet industry worldwide focused on enhancing user experience, I have no doubt that Baidu will continue to break new ground in search innovation."
"We'll continue to ensure Baidu's search leadership by hiring the best talent and pursuing our strategy of developing products that users want," Mr. Li added.
Mr. Liu stated that he has decided to resign for personal reasons.
Baidu.com, 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, trade on the NASDAQ National 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" and similar statements. Among other things, the quotations from management in this announcement contain forward-looking statements. Baidu may also make written or oral forward- looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Baidu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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, results of operations and financial condition; expected changes in our margins and certain cost or expense items as a percentage of our revenues; our ability to attract and retain users and customers; competition in the Chinese language Internet search market; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright, patent and other intellectual property rights; the expected growth of the Chinese language Internet search market and the number of Internet and broadband users in China; and Chinese governmental policies relating to the Internet and Internet content providers. Further information regarding these and other risks is included in our registration statement on Form F-1, as amended, filed with the Securities and Exchange Commission. Baidu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please Contact: China Lesley Zhang Baidu.com, Inc. (Beijing) Tel: +86-10-8262-1188 x8246 Email: email@example.com Rory Macpherson Ogilvy Public Relations Worldwide (Beijing) Tel: +86-10-8520-6553 Email: firstname.lastname@example.org US Thomas Smith Ogilvy Public Relations Worldwide (New York) Tel: +1-212-880-5269 Email: email@example.com
SOURCE Baidu.com, Inc.
China - Lesley Zhang of Baidu.com, Inc. (Beijing), +86-10-8262-1188 x8246, or firstname.lastname@example.org; or Rory Macpherson of Ogilvy Public Relations Worldwide (Beijing), +86-10-8520-6553, or email@example.com, or US - Thomas Smith of Ogilvy Public Relations Worldwide, (New York), +1-212- 880-5269, or firstname.lastname@example.org