Li Ning CFO resigns - sportstextiles: Lea SportsTextiles

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Li Ning CFO resigns

12/10/2012
The chief financial officer of Chinese sportswear company Li Ning has resigned.

Chong Yik Kay will step down on November 1 but will remain an adviser, the company said in a statement filed to the Hong Kong stock exchange.

It added that an adviser with over 20 years of operations experience, including serving as the chief financial officer of a multinational company in China, will help to lead the finance function of the company in the interim period. It is in talks with potential candidates to fill the post.

Li Ning has suffered from a slowdown in the Chinese economy, reporting in August first half profit was down 85%, and it warned it could end the year on a loss.

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