Beijing – Chinese new media company Phoenix New Media Limited (“Phoenix New Media”, “ifeng” or the “Company”) (NYSE:FENG) announced on February 17 that Shuang Liu, the Chief Executive Officer (“CEO”) of the Company, has accepted the appointment by the board of directors of Phoenix Satellite Television Holdings Limited (“Phoenix TV”), a Chinese language satellite television based in Hong Kong and the parent company of ifeng, to be the Chief Operating Officer (“COO”) of Phoenix TV, effective immediately. Liu will continue to be the CEO of ifeng.
The key initiative for Liu’s new COO position at Phoenix TV is to accelerate the convergence of TV, Internet and mobile platforms of the two companies. In his new role, Mr. Liu will be tasked with strategising, overseeing and allocating resources to implement this convergence strategy. Through this appointment, both companies aim to expand user reach on each of its media platforms, provide advertisers a one-stop shop solution, more effectively monetise the Phoenix brand across all verticals, and achieve greater cost synergies.
“We’re pleased to announce that Shuang has been promoted as the COO from his previous position as a Vice President at Phoenix TV. This appointment recognises Shuang’s great leadership, exceptional execution capability, and significant contributions to Phoenix Group’s growth over the past decade,” said Keung Chui, Chairman of the Board of Directors of ifeng and the executive director and deputy chief executive officer of Phoenix TV. “Shuang has played a critical role in leading the new media business through its successful spin-off, IPO and substantial growth in size and importance post-IPO. Moving ahead, Shuang will maintain senior management positions in both of the companies, where he will be able to further strengthen this mutual relationship and cooperation. Shuang’s proven expertise and leadership will help Phoenix TV and ifeng to achieve greater synergy together in terms of programme productions, advertising sales and cross marketing promotional initiatives.”
Shuang Liu has served as a director and CEO of Phoenix New Media since the Company’s inception in November 2007. Liu also has served for Phoenix TV from 2001 to the present in various managing positions, including chief director of business development and vice president in charge of investment, finance, investor relationships, legal affairs, public affairs and development of the finance channel. Before joining Phoenix TV, Liu worked at Simpson Thacher & Bartlett LLP, Milbank, Tweed, Hadley & McCloy LLP and Morrison & Foerster LLP from 1996 to 2001. Liu received a J.D. degree from Duke University Law School, and a bachelor’s degree from University of International Business & Economics.
