Fubotv earnings beat by $0.10, revenue topped estimates
BEIJING – Baidu, Inc. (NASDAQ:BIDU), a leading Chinese tech company, announced the appointment of Ms. Xiaodan Liu as an independent director and chair of the audit committee, effective Sunday. This change comes as Mr. Brent Callinicos steps down from his role due to personal reasons. According to InvestingPro analysis, this transition comes at a time when governance and leadership are crucial factors in company valuations.
Ms. Liu, with her extensive experience in financial markets, is the managing partner at FirstLight Capital, a prominent private equity firm in China. Her previous roles include CEO and Chairperson of Huatai United Securities, where she played a pivotal role in the firm’s ascent in the investment banking sector. She also served as Chairperson at AssetMark Financial Holdings, Inc. (NYSE: NYSE:AMK) and holds independent directorship at China Pacific Insurance (Group) Co., Ltd. (SSE (LON:SSE): 601601, HKEX: 02601). AssetMark, currently showing strong fundamentals with $6.3 billion in revenue and a healthy current ratio of 2.11, appears undervalued according to InvestingPro Fair Value calculations.
Her involvement in capital markets policymaking includes advisory roles and membership on the M&A and Restructuring Committee of the China Securities Regulatory Commission (CSRC). Ms. Liu’s academic credentials include a bachelor’s degree in political science and a master’s degree in law from Peking University.
Baidu’s board confirmed that Ms. Liu meets the independence requirements of the Nasdaq Stock Market Rules and qualifies as an audit committee financial expert under the Exchange Act.
The company has expressed its gratitude to Mr. Callinicos for his valuable contributions during his tenure and welcomed Ms. Liu, anticipating her to bring new insights and direction to the board.
This leadership transition is not the result of any disputes or disagreements, as clarified in the company’s statement based on a press release.
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