| For Immediate Release |
Interim CEO Mr. Li Ning re-designated as Joint CEO |
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(Hong Kong, 2 September 2019) Li Ning Company Limited ("Li Ning" or the "Company"; together with the subsidiaries, the "Group"; HKEx stock code: 2331) is pleased to announce today that Interim CEO Mr. Li Ning ("Mr. Li") has been re-designated as the Joint CEO of the Company, while Mr. Kosaka Takeshi ("Mr. Kosaka", former Chinese name was Qian Wei) has been appointed as Executive Director and Joint CEO, with effect from today. Mr. Kosaka, a Japanese-Chinese, has over 15 years'experience in the development and management of the PRC market. Prior to joining the Group, he was the vice general manager and the COO of the PRC Uniqlo, the CEO of South Korea Uniqlo and worked in various divisions and Asian regions gaining extensive experience in supply chain, products and merchandising as well as retail management. Mr. Li and Mr. Kosaka jointly serve as the Joint CEOs and they will cooperatively promote the sustainable business development of the Company. As the founder of the Group, Mr. Li will always firmly support the development of the Group. He will focus on the overall control and strategic planning of the Group and continue to closely work with the management team towards the Group's business development. Mr. Kosaka will fully exploit his extensive operation and management experience as well as his in-depth insight of PRC market to bring new vitality to the Company’s development. He will focus on the operations of the Group including supply chain, products, merchandising and retail management. Mr. Li Ning, Executive Chairman and Joint CEO of the Group, said, "On behalf of the Board, I would like to extend the warmest welcome to Mr. Kosaka for joining the Company and the Board. Looking forward, the Company will continue to implement the strategy of "Single Brand, Multi-categories, Diversified Channels", and build-up the core competitiveness on the platform of experience value creation and pursuit. Our management will join efforts and strive to achieve the strategic goals of the Company." For inquiries, please contact iPR Ogilvy & Mather |