Lining: Moderate Decentralization + Powerful Executors

Sitting behind the Chinese desk, staring at the tablet screen, "wait a minute, I'll answer an email."

He said to the visiting reporter.

He seemed to be making a decision, with a word in his brow.

His fingers remained on the keyboard, and there were several deep and shallow scars on his index finger and middle finger.

It was 9 o'clock in the morning, and the lattice space between Lining center was basically empty.

One employee said that 8 o'clock saw Lining rush into the company.

Lining today's title is Li Ning Co chairman and executive director (hereinafter referred to as "CEO").

In order to stop the decline of the company's performance, the former "gymnastic Prince", the main torch igniter of Beijing Olympic Games, is slowly adapting to the trivial reports and endless signing that he has tried to keep away from.

Lining, who only served as chairman of the board more than 9 months ago, is much more relaxed than usual.

Although in the July 5, 2012, when Zhang Zhiyong left office for "CEO", Lining announced the formal return, and the capital market also made an ardent response. On the same day, Li Ning Co's stock rose more than 8%; however, Lining seemed to carry on the style of "not in the right place and not in his administration", and gave the executive power to Zhang Zhiyong's successor, TPG, partner Jin Zhenjun.

"To be chairman of the board is mainly to control the strategic and general direction."

Lining told reporters.

This situation lasted until November 14, 2014, and Jin Zhenjun, a Korean American who was well placed to hope, failed to get the company's financial statements back to normal.

Li Ning Co announced three days later that before the new CEO took office, it was replaced by Lining, the founder of the company.

He struggled for a long time. He also wanted to hire another overseas professional manager to serve his job until he became a CEO in October last year.

Zhang Xiangdou said, "after taking part in office, Lining has been busy for half a year and has no weekends."

Zhang Xiangdou is one of the three remaining "old Lining people" remaining in the Li Ning Co, followed by Lining for 25 years, 003 for work, 002 for former national badminton team Hong Yuru, and 001 for Lining herself.

Lining's busyness seemed to reflect the value: according to the first half earnings report released by Lining (02331, HK) in August 13th, as of June 30, 2015, Lining realized an income of 3 billion 641 million yuan, up 16.1% over the same period last year.

It looks like this.

The founder is pulling the company back from the edge of the cliff.

A moderate right of decentralization.

On the desk of Lining's office, a bronze statue was carved in August 8, 2008. He ran the torch at the opening ceremony of the Beijing Olympic Games. The runner looked very young.

"I don't feel like me."

Lining said with a smile.

For Lining, August 8th is undoubtedly a special day. 7 years later, he chose to end this day. The company used the slogan "Make the change" for 5 years to return to "anything is possible".

Walking in the Lining Park, Zhang Xiang looked back to the conference center that hung up the word "everything is possible". It recalled the situation of changing slogans at that time. There were 8 plans at that time. Lining, who had one vote veto, did not express absolute negation. Instead, he responded with oriental wisdom.

When the reporter mentioned this to Lining, he said, "I didn't agree at first."

It's Lining's character and tolerance.

He trusted him and any manager appointed by the board of directors, giving them the best resources and platforms to give them the ability to perform.

Lining will not be authorized to meet the implementation, he will talk in a serious tone of persuasion, but he will not say no.

Zhang Xiang Du analyzed, "this is also the factor that I think Li Ning Co expressed regret in 2013 and 2014."

Zhang Xiangdou's endless landslide made Lining think he was too mild in deciding whether to be CEO or not.

At the Lining family and all two people, he strongly suggested that Lining be appointed to CEO, but Lining's response was to find a CEO who could face the market and manage his strategy.

"But if an enterprise can't stop sliding, will it be useful to consider strategies? Is it not the greatest strategy for enterprises to survive at this time?" recalling the situation at that time, the face of Zhang Xiangdou, number 003, was anxious and clear.

This year, he has just entered the flower armor. He should have retired to accept Lining's invitation for re employment.

Center.

He and Lining's family are 4 minutes' distance, and two often meet running, riding, and sometimes playing golf.

His job number has been from 021 to 003 today, and the number of them is the old Lining who has left. It is not difficult to see the ups and downs of Li Ning Co.

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Public data show that from 2012 to 2014, Li Ning Co's performance has been in a state of deficit. The losses in three years were 1 billion 980 million yuan, 390 million yuan and 780 million yuan respectively, totaling over 3 billion 100 million yuan.

In addition to performance losses, Li Ning Co also fell into the problem of high inventories and closing stores.

This kind of gloomy company has almost shaky, but it also brings Lining's doubts both inside and outside the company. The sound of fading voice is always heard, expressing the mood of that time. Lining doesn't want to say more: "how do I feel?" I don't know.

But I finally decided to make the whole change. "

"Is this the second time in your life that you are defeated in Seoul?"

"No, this is the art of your writing."

Zhang Xiangdou asked Lining, from the glory of the Losangeles Olympic Games to the defeat of Seoul; from the first flight to China, flowers to the last plane, and at the end of the long corridor, only Li Jingwei held flowers with one person, could she feel the cruelty of sports?

He remembered Lining's answer: "not cruel.

Athletics brings me more happiness. "

Strong executors

Last October, Lining gradually identified himself as CEO.

"He told me at the time that the national team needed a head coach."

Speaking of Lining's metaphor, Zhang Xiang is still interested.

In addition to intonation, CEO Lining is not related to moderation.

When the reporter referred to the questioning of the executive power of the outside world, Lining's hands clicked, and the joints issued a loud noise: "(people always have) such a high level of evaluation. I think it might be better if companies let them manage."

This kind of action appeared several times in the interview, accompanied by a strong response.

"CEO can not be gentle in this position. He is facing the market. The market is a life and death place. How can it be gentle?" Zhang Xiang analyzed.

Li Wei, director of public relations of Lining group, believes that Lining is quite straightforward in his speech and the instructions given are clear and clear.

But, according to the financial world, the former CEO Zhang Zhiyong, who had already been out, said frankly, "you let Lining stay in the office. I bet he will be mad in two months."

This doubt is not groundless.

For a long time, there was always a partner around Lining, from the original Chen Yihong to Zhang Zhiyong to Jin Zhenjun.

The contrast often mentioned is Anta's Ding Shizhong.

From 2012 to 2014, Ding Shizhong traveled almost all the prefecture level cities in China, totaling over 500.

As for the reporter's question of "running several prefecture level cities", Lining's answer is "always go."

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After years of "Seclusion", the rare "decentralization" of this Chinese entrepreneur seemed to be reasonable when he took over the executive power.

However, Lining said, "I think it's okay. After all, 20 years of business, I still have my own accumulation in this area, but I didn't participate in it before."

He did not agree with the idea of "hiding behind the scenes". When the surging news mentioned this, he laughed and looked back and repeated with a rhetorical question: "hiding behind the scenes?"

"Everyone has a misunderstanding that Lining has been chairman of the board for a long time to establish the company from the perspective of athletes. It seems that he is far from the business, the market, the products are far away, the outside world is good, and some of his employees will be wondering whether he can do well in CEO.

But in fact, he does not exist to familiarise himself with senior executives and businesses.

He felt very accurate about the product, and when he was chairman, he often followed it.

Contact.

And many athletes are brought to the company and are friends with him. He has been through these athletes to understand the market.

Zhang Xiangdou said, "he has never been in the position of command (CEO), so his energy efficiency has not been exerted."

Today, Lining has been sticking to it for more than 9 months. Although he told reporters that he should not be a part-time member, he is still looking for the right person.

It is not difficult for employees to feel Lining's penetration of all aspects.

"If Lining receives feedback on product quality issues, he will personally talk to businessmen."

Zhang Xiangdou said that Lining would go to the shop and put forward his own ideas on the display and matching of the exhibits, and would directly modify them at the scene.

"This is not what CEO used to be. Most of them came back to write a summary."

He seems to be heading in the direction of doing things personally.

He often receives his work email at night.

Li Wei said.

She told reporters the latest "late night mail" was about the interview. Li Wei told him what dress code he had to wear, and Lining replied with "sky blue" to "see you tomorrow."

Dialogue [Lining]

Reporter: when you announced the official return in 2012, the stock of Li Ning Co rose more than 8% on that day. In August 8th this year, you changed your slogan to "everything is possible". The industry thinks that Lining has found the right direction and is ready to start again, which is quite good. But after two days, the capital market reaction is rather cold. What do you think?

Lining: I think the capital market does not need a slogan, but needs a company's competitiveness. In the future competitiveness, consider whether the company can continue to grow in financial terms. As a company, slogan is a concentration of corporate culture, so investors will pay close attention to it, but will not directly link it to the stock price.

For us, restarting this slogan is, on the one hand, consistent with our Li Ning Co gene: Athletes' genes; on the other hand, it can also make our company more conscious inside and outside.

In the past, there were so many voices and too much noise that people could not speak on a platform. No one was wrong.

I hope to return to this slogan and let us see clearly, especially I can see clearly who Lining is.

Reporter: it is said that you did not agree with the slogan "make the change" at first.

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Lining: it's not that I disagree, that's right.

After all, the slogan is not my personal affairs, but also everyone's approval.

From the bottom of my heart, we have seen the trend of homogenization of the market from 2008 to 2010.

But from the whole operation, after all, it is a listed company, so there is financial pressure.

When we invest in special products, such as basketball, badminton and running, we need to invest in advance.

These early investments are difficult to create in the short term, and really entering a sport requires specialization, and products, understanding, promotion, materials, and functions all require majors.

In the process of execution, people found that half the cost was too high to go on, so they changed, and finally found out that the result was out of shape.

At that time, the whole team was eager to change. "Make the change" was not a superficial slogan. It was indeed the team's inner desire to seek changes and industrial changes, so everyone would agree with "make the change".

Reporter: when it comes to executive power, many people outside doubt that Li Ning Co can not carry out many good strategies.

Lining: with such a high level of evaluation, I think it would be better if companies let them manage.

A company with a large scale has been doing this for 25 years. If there is no executive power, can Li Ning Co go to today? The reason why we adjust today is that the impact we have suffered, our inertia and the homogenization of the industry make me determined to make some adjustments.

But the adjustment will bring a lot of negative voice, but who really entered the company to see?

As a Li Ning Co, there must be some shortcomings, but not simply execution.

Even if we adjust, the worst sales in 2013 will be 5 billion 800 million.

It's not easy to do something. Some things have to be abandoned and others need to be constructed.

Giving up may give up in a minute, but the structure will take one, three or even five years. In the process, employees will have vague areas and there will be unclear places outside.

Reporter: your previous cooperation with customers has puzzled some dealers. They questioned the company's low price sale on customers, which is diluting the brand.

How can we balance the interests of network sales and dealers in the future practice of "Internet +"?

Lining: we only deal with the inventory of goods on the customers. There should be no big conflict with distributors.

None of my main distributors has such a view.

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We have been doing business since 2009. We have been doing well.

The electricity supplier is in conflict with certain lines, but it is related to the interaction between online and offline businesses.

In the past, people talked about the impact of electricity suppliers on traditional department stores.

There are many people from the Department under their own line from the channel to the participants. We can make sports goods, there are more than a dozen shops on one street. Is this the problem of the electricity supplier?

Reporter: but now Li Ning Co is criticized for losing control of dealers. What do you think?

Lining: This is not who controls who, but the cooperation between the two sides.

20 years ago, the era of scarcity of products, in the era of scarcity, you have to produce products, there is still a channel.

At that time, local dealers completed the business with us, and everyone had business and profit margins. But now is the era of product overabundance. If we still use very crude practices, it is hard to make money.

Therefore, cooperation with distributors is not the question of who controls whom, but the two sides no longer continue the extensive mode of the past.

This requires us to have more advanced and closer cooperation with distributors, rather than wholesale business relations in the past.

We will cooperate with more long-term distributors. Some dealers are not interested in doing this industry. We will gradually break away from the cooperative relationship.

Reporter: in fact, it is not very easy for the traditional industry to pit to the Internet. There will always be years of thinking.

I noticed that you drove the micro-blog very late and did not open this year.

Lining: I started micro-blog very early, but I told you that I opened micro-blog, and I had to talk with you very late.

Because I didn't participate in business before. When I spoke, many people thought I was representing the company.

So I didn't communicate with you.

I have been diving for a long time, and today I try to participate in public communication in order to be a company.

As a matter of fact, I am not very happy to do it.

The good side is communication. The bad side is that I can easily take the words on the Internet seriously, so it's easy to feel uncomfortable.

On the Internet, many people say today and forget tomorrow.

So I have to adapt to this.

It turned out that I used to go to other people's reviews.

Reporter: look at your personal image of public relations, not much, will the future increase this investment? For example, engage in a fan economy?

Lining: I am too much from outside to outside, so I still want to keep a little room for myself.