Li Ning’s interim CEO is to step down - sportstextiles: Lea SportsTextiles

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Li Ning’s interim CEO is to step down

25/11/2014
Chinese sports brand Li Ning is to step up its search for a permanent chief executive after Jin-Goon Kim said in mid-November he was stepping back from the role.

Mr Kim, a partner at investment firm TPG Capital, became interim chief executive of Li Ning after his company took a stake in the sports firm in July 2012.

On reporting the development, the Financial Times said Li Ning has consistently said over the last 18 months that it has turned the corner following poor results, for which it has blamed past branding and distribution mistakes. However, results have continued to be disappointing.

In the first half of 2014, Li Ning reported losses of $75 million.


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