Baidu Names Apple Exec as COO

Chinese-language Internet search provider Baidu.com (BIDU Quote - Cramer on BIDU - Stock Picks) named Peng Ye as its chief operating officer, effective April 25.

Ye joins the company from Apple's (AAPL Quote - Cramer on AAPL - Stock Picks) China business, where he served as country general manager.

"We are pleased to have Mr. Peng Ye joining us as chief operating officer," said Robin Li, Baidu's chairman and chief executive. "With his years and wide range of experiences in sales, marketing and business operations management, as well as software development in the IT and telecom industries, Peng is a strategic addition to our management team."

Shares of Baidu rose 3% Wednesday to $281.48.