BEIJING, Dec 29, 2007 /Xinhua-PRNewswire-FirstCall via COMTEX News Network/ -- Baidu.com, Inc. (Nasdaq:
BIDU), the leading Chinese language Internet search provider, today
regretfully announced that Shawn Wang, Baidu's Chief Financial Officer, passed
away on December 27, 2007 in an accident in China during the Christmas holiday
(Logo: http://www.newscom.com/cgi-bin/prnh/20041011/BAIDULOGO )
"We are all completely shocked and deeply saddened by this tragic news,"
said Robin Li, Baidu's Chairman and CEO. "Shawn's leadership and vision helped
transform Baidu into a leading US public company, and his presence will be
greatly missed. Shawn was not only a tremendous leader within our company, but
also a wonderful friend to us all. We extend our deepest sympathy and most
sincere condolences to Shawn's family."
Under Mr. Wang's leadership, Baidu has built an effective financial
reporting system in compliance with the Sarbanes-Oxley Act. His duties will be
assumed on an interim basis by the senior management team, including the
senior finance personnel, until a successor is appointed.
Mr. Wang joined Baidu as its chief financial officer in September 2004,
helping lead the company through its successful initial public offering on
NASDAQ in August 2005, and through its recent inclusion in the NASDAQ-100;
making Baidu the first company from China to be included in the index. He was
named "CFO of the Year" by CFO Magazine in 2005.
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,
are currently trading on the NASDAQ Global Market under the symbol "BIDU."
For investor inquiries please contact:
For investor and media inquiries please contact:
Ogilvy Public Relations Worldwide (Beijing)
In the US:
Ogilvy Public Relations Worldwide (New York)
SOURCE Baidu.com, Inc.