Li Ning Co Announces Zhang Zhiyong Resigning As Non-Executive Director

Over 20 years, Lining veteran Zhang Zhiyong ended his trip to Li Ning Co.

Li Ning Co announced that Zhang Zhiyong resigned as a non-executive director in October 6th.

At present, Lining is executive chairman of Li Ning Co, and Jin Zhenjun is executive vice president and acting chief executive officer.

Zhang Zhiyong joined Li Ning Co in 1992 as a cashier and was recommended by former CEO Chen Yihong for many years to become the new CEO.

During his Li Ning Co administration, Zhang Zhiyong attached importance to sales promotion, rather than expanding sales through large advertising campaigns.

In 2003,

The company's sales exceeded 1 billion yuan.

In 2004, Li Ning Co listed in Hongkong and became the first Hong Kong listed companies of mainland sporting goods company.

In 2011, Lining's annual income was 8 billion 929 million yuan, although the figure was higher than Anta, XTEP, 31st degree and PEAK, but the net profit was only 386 million yuan, the bottom of the five brands.

In July 5, 2012, the Li Ning Co announced that Zhang Zhiyong had resigned as CEO of the company since July 4, 2012 and has not been a member of the Executive Committee of the board of directors since the same day.

The board and Zhang Zhiyong agreed that for the next stage of the development of the group, it is the right time to introduce the new management team.

Zhang Zhiyong will continue to serve as executive director of Li Ning Co and chief adviser to the Executive Committee of the board.

After that, Lining, who retired for many years, personally came to power as the founder of the company.

The director is in charge of group outreach, and Jin Zhenjun, Dezhou Pacific Capital Partners, as the executive vice chairman and executive director, is responsible for the development and operation of internal affairs.

Lining called himself "the best combination" during the pition period.

At present, Lining is executive chairman of Li Ning Co, and Jin Zhenjun is executive vice president and acting chief executive officer.