BEIJING, Sept. 9, 2014 /PRNewswire/ -- Baidu (Nasdaq: BIDU), the leading Chinese language Internet search provider, today announced the appointment of Dr. Ya-Qin Zhang as president, in charge of new business, effective immediately. Zhang will report to Robin Li, Baidu's chairman and chief executive officer.
Prior to joining Baidu, Zhang served as Microsoft's corporate vice president and chairman of Microsoft's Asia R&D Group, leading overall research and development efforts in Asia-Pacific, the largest Microsoft R&D establishment outside of the United States with over 3,000 scientists and engineers. He joined Microsoft in 1999 as one of the key founders of Microsoft Research Asia (MSRA). Zhang founded Microsoft's Asia-Pacific R&D Group in 2006, integrating disciplines across fundamental research, technology incubation, product development and strategic partnership. Zhang has held various key positions over his 15 year tenure at Microsoft, including managing director of Microsoft Research Asia, chairman of Microsoft China, corporate vice president of Mobile and Embedded Products, and more recently chairman of Microsoft Asia R&D.
"We are delighted to welcome Ya-Qin to our senior executive team," said Li. "With his wealth of technical knowledge and strong business expertise, Ya-Qin will make valuable contributions as we expand into new areas of business."
"I'm very excited to be part of Baidu at an important inflection point in the Internet industry," said Zhang. "Baidu has demonstrated vision, ambition, and commitment to invest in cutting-edge research and innovation that will transform the Internet industry in China and around the world. I share their vision and look forward to realizing the immense potential of Baidu in this new era."
Zhang received his B.S. and M.S. in Electrical Engineering from the University of Science and Technology of China (USTC) in 1983 and 1985. Zhang received a Doctor of Science degree in Electrical Engineering from George Washington University in 1989 at the age of 23. He is a Fellow of the Institute for Electrical and Electronics Engineering (IEEE) and an adjunct professor for some 20 top universities around the world. Zhang holds over 60 US patents and has authored over 500 papers and 11 books on video coding, mobile communications, and networking.
Baidu, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best and most equitable way for people to find what they're looking for. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs trade on the NASDAQ Global Select Market under the symbol "BIDU". Currently, ten ADSs represent one Class A ordinary share.
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. Among other things, the quotations from management in this announcement, as well as Baidu's strategic and operational plans, 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, 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, including development of new products and services; our ability to attract and retain users and customers; competition in the Chinese, Japanese and other 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. Baidu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.
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