On the move

Eric Li, Baidu's VP, quits after financial charges

Eric Li, the youngest vice-president of Baidu Inc, has resigned after allegations of bribery and financial wrongdoing surfaced, according to an internal company letter. Li is said to have benefited from a company acquisition by conducting parallel financial deals with the head of one of Baidu's acquired companies. Li also did not file records of his personal investments in other companies with business relationships with Baidu, which is a violation of Baidu's staff moral code. However, Li denied on a social website that the financial transactions are illegal. Li joined Baidu in 2004 as an intern, and left in 2007 when he was the head of Baidu's e-commerce arm. In four years, he rejoined Baidu and was promoted to vice-president in 2013.

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