Li Ning: Interim CEO steps down

Jin-Goon Kim is no longer interim chief executive officer at Li Ning, China’s largest marketer of sports gear. Kim was at the top of the group’s operations for more than two years as executive vice chairman, along with Li Ning as executive chairman of the company he founded. The joint leadership was installed after the resignation of CEO Zhang Zhi Yong on July 4, 2012. In March this year, Kim was appointed additionally as interim chief executive. The company announced that the process of identifying a new permanent CEO is expected to come to a close soon; until then CEO duties will be performed by Li Ning himself. Kim is said to remain vice chairman, but will concentrate on other responsibilities at TPG, the investment firm of which he is a partner.

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