Baidu CTO Resigns, Rumored to Jump to 12580
Baidu (Nasdaq:BIDU) announced January 18 that its Chief Technology Officer Li Yinan has resigned for personal reasons, effective the same day, Sohu reports. Li's responsibilities will be taken over by Senior Technology Directors Guo Dan and Cui Shanshan, according to another Sohu report citing an internal email.
According to an unnamed company insider, Li plans to head Beijing Wuxian Xunqi Information Technology Company, the operator of China Mobile (NYSE:CHL, 0941.HK) hotline service "12580," as chief executive officer, 163.com reported. Wuxian Xunqi responded to the news by saying that the company will make an official announcement on January 20, reported qq.com.
Baidu appointed Li as CTO effective October 6, 2008.
Baidu Chairman and CEO Robin Li said January 16 that he expects the company's revenue to grow by 4000% over the next ten years, Sohu reported January 18. Baidu recorded net income of RMB 492.9 million ($72.2 million) in the third quarter of 2009, up 41.7% year-on-year.
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