Jennifer Li appointed as new CFO of Baidu

Nasdaq-listed Baidu.com Inc., the leading Chinese language online search engine operator, said on Friday it appointed Jennifer Li as chief financial officer (CFO), effective from March 31.

Jennifer joins Baidu from GMAC, where she served as controller of General Motors Acceptance Corp.'s North American operations. She had also worked as the CFO of General Motors China responsible for overseeing finance functions of GM's wholly owned and joint venture businesses.

"(She) has a proven track record of leading finance functions. We look forward to drawing upon Jennifer's strategic and financial expertise as we continue to lead China's growing internet search market." said Robin Li, Baidu's chairman and CFO.

Baidu's former CFO, Shawn Wang, who joined Baidu in 2004 and helped Baidu list in Nasdaq successfully, died in an accident in China in December.

Baidu shares closed at US$207.90 on Thursday, down 5.59% against the previous trading day.