China search engine provider Baidu's CEO to quit due to personal reasons

Baidu.com Inc, a leading Chinese-language Internet search engine, said its chief executive Xu Yong will leave the company on Dec 15 due to personal reasons.
'Xu's decision is his personal choice,' a Baidu public relations officer told XFN-Asia.
Baidu, founded and launched by Xu Yong and Li Yanhong in 1999, and in which Google (NASDAQ: GOOG - news) owns an undisclosed stake, has been preparing since last October to list on the Nasdaq (NASDAQ: news) exchange.
The public relations officer said there is no definite timetable as yet for the listing.
Major Chinese-language search engines include Baidu and Sohu-backed Sogou.com, whose chief operating officer Victor Koo said two weeks ago that he will resign by March 31 next year.
Web business tracker iResearch said earlier that China's search engine market was worth around 500 mln yuan last year, and is expected to almost triple to 1.4 bln yuan during 2005.
(1 usd = 8.3 yuan)
tom.wang@xinhuafinance.com

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