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 vacation.
"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.