BAIDU, INC. filed this Form 6-K on 09/20/2017
Entire Document

Exhibit 99.1

Baidu Appoints Herman Yu as Chief Financial Officer

BEIJING, SEPTEMBER 18, 2017 — Baidu, Inc. (the “Company” or “Baidu”) (NASDAQ: BIDU), the leading Chinese language internet search provider, today announced the appointment of Herman Yu as chief financial officer, effective immediately.

“We are delighted to have Herman Yu join our executive team at Baidu,” said Robin Li, Baidu’s chairman and chief executive officer. “Herman brings invaluable financial management, capital market and leadership experience, having served as CFO of US-listed internet companies for 10 years, as well as having held management roles at high tech companies in both the US and China. I look forward to working with Herman in his new capacity, as Baidu enters the next stage of growth in the AI era.”

“I am deeply honored to join Baidu, a world-class technology company,” said Mr. Yu. “I look forward to working with Baidu’s talented management team to realize the tremendous potential in the AI era.”

Herman Yu joins Baidu from Weibo Corp. (NASDAQ: WB), where he has served as chief financial officer since 2015. Prior to Weibo, Mr. Yu worked at SINA Corp. (NASDAQ: SINA) from 2004 to 2015, most recently as chief financial officer from 2007 to 2015. Mr. Yu began his career at Arthur Andersen and has held various finance and accounting management positions at Adobe Systems Inc., Cadence Design Systems, Inc. and VeriFone Systems, Inc. He is a California Certified Public Accountant and holds a B.A. in Economics from the University of California and an M.A. in Accountancy from the University of Southern California. Mr. Yu serves on the boards of 58.com Inc. (NYSE: WUBA), ZTO Express Inc. (NYSE: ZTO), and Tian Ge Interactive Holdings Limited (SEHK: 1980).

Jennifer Li will step down as chief financial officer of Baidu and serve the Company as a senior advisor to senior management. Jennifer is chief executive officer of Baidu Capital, a private equity firm focused on AI-enabled opportunities.

About Baidu

Baidu, Inc. is the leading Chinese language Internet search provider. Baidu aims to make a complex world simpler through technology. Baidu’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU”. Currently, ten ADSs represent one Class A ordinary share.