Beijing – Phoenix New Media Limited (ifeng), a new media company in China, announced that Lily Qianli LIU has tendered her resignation as Chief Financial Officer. Ya LI, the company’s Chief Operating Officer and previous CFO, will serve as interim CFO while the Company undertakes a search for Liu’s replacement. Liu will leave at the end of July 2013, but will continue to consult for the company during the search for her replacement, helping to ensure a smooth transition.

“I would like to sincerely thank Lily for her expertise and dedication to ifeng and for establishing and running strong finance, human resources, legal, internal control and audit, and investor relations teams during her tenure, as well as in leading our overall financial management and internal control activities both before and after our initial public offering. Lily’s commitment to high standards of accountability, transparency and integrity has helped us set the tone for how ifeng does business today and going forward,” commented Mr. Shuang LIU, CEO of Phoenix New Media. “In addition, we are pleased to have Ya, who previously served as CFO for five years and has been with our company since 2006, to step into this interim position. Ya’s presence and experience will enable our Company to move seamlessly through this transitioning period.”