Phoenix New Media has promoted Li Ya, chief operating officer of the company, to the role of president, effective immediately.

Prior to the promotion, Li has been serving as Phoenix New Media's COO for the past eight years. He also held a concurrent post as chief financial officer between June 2006 and November 2010.

Li has over 20 years' experience in start-up companies and listed companies, which cover sectors like Internet, media, finance, and telecommunications in both American and Chinese markets. Before joining Phoenix New Media, Li was COO and CFO of Techedge, an entrepreneurial listed company, from 2004 to 2006.

In 1995, Li founded an Internet start-up named Global Villager in New York and held the CEO position. The company was acquired by Startec Global Communications, a Nasdaq-listed company, in 2000. Between 1993 and 1999, Li also worked for Verizon Communications, Donaldson Lufkin & Jenrette, Lehman Brothers and Morgan Stanley.