December 29, 2007: 05:00 AM EST
BEIJING, Dec. 29 -- Baidu.com, Inc. , the leading Chinese language Internet sear
ch provider, today regretfully announced that Shawn Wang, Baidu's Chief Financia
l Officer, passed away on December 27, 2007 in an accident in China during the C
hristmas holiday vacation.
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"We are all completely shocked and deeply saddened by this tragic news," said Ro
bin Li, Baidu's Chairman and CEO. "Shawn's leadership and vision helped transfor
m Baidu into a leading US public company, and his presence will be greatly misse
d. Shawn was not only a tremendous leader within our company, but also a wonderf
ul 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 sy
stem 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 perso
nnel, 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 Aug
ust 2005, and through its recent inclusion in the NASDAQ-100; making Baidu the f
irst company from China to be included in the index. He was named "CFO of the Ye
ar" by CFO Magazine in 2005.
About Baidu
Baidu.com, Inc. is the leading Chinese language Internet search provider. As a t
echnology- based media company, Baidu aims to provide the best way for people to
find information. In addition to serving individual Internet search users, Baid
u provides an effective platform for businesses to reach potential customers. Ba
idu's ADSs, each of which represents one Class A ordinary share, are currently t
rading on the NASDAQ Global Market under the symbol "BIDU."
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