Chinese internet and technology giant Baidu said on Monday that it has named Luo Rong, former chief financial officer (CFO) of tutoring firm TAL Education Group, as its new CFO. Under the arrangement, Luo will report to Baidu CEO Robin Li. Meanwhile, the former CFO Herman Yu was appointed as the company’s chief strategy officer.
“Luo has extensive experience in financial management and capital markets,” said Robin Li. “We are delighted to welcome Rong to our management team and expect his skills and leadership capabilities to help us achieve our next stage of growth in the AI era.”
Luo holds bachelor’s degrees in both information management & systems and economics from Peking University, a master’s degree in management science and engineering from Tsinghua University, and a Ph.D. degree in management science from Peking University. He has worked for Microsoft, PC maker Lenovo, online travel agency eLong and TAL.
Luo has been CFO of TAL since 2014, and has accumulated rich working experience in this position. He has played an important role in promoting TAL’s transformation from operation-driven to data and technology-driven, from offline to online. On October 29, 2021, Luo stepped down as the CFO, but continued to serve as the senior consultant of TAL.