Li Ning Co Is Trapped In Three Major Problems To Be Solved Through Internal Structural Adjustment.

Recently,

The company announced that Jin Zhenjun resigned as executive director and executive vice chairman of the company in pursuit of other business commitments.

Insiders pointed out that the company's sustained performance pressure and team disharmony were the main reasons leading to Jin Zhenjun's departure.

It is understood that as early as last year, Jin Zhenjun resigned from the position of chief executive officer of Li Ning Co.

Kim Chun Chun, a Korean American, is a global private person.

Partner of TPG company and head of Greater China, and director of several TPG investment companies including Guanghui Motor Co., Ltd.

And so on.

In July 2012, Li Ning Co invited Jin Zhenjun to be the acting chief executive of the company. Subsequently, Jin Zhenjun and Lining led a large-scale restructuring of the organization and launched a revival plan with a cost of 1 billion 400 million -18 billion yuan.

However, his reforms did not work, not only did they not prevent Li Ning Co from declining profits, but also sustained losses for three years.

Data show that in the past 2012-2014 years, the performance of Li Ning Co has been in a state of loss, and 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 has also fallen into a problem of high inventories and closing stores.

Analyst Ma Gang said that Jin Zhenjun's remarks were either because his arrival did not play a role in saving the Li Ning Co. On the other hand, he took a large number of "airborne troops" executives. Meanwhile, many managers familiar with Lining culture and Lining dealer system left, resulting in team disharmony, and the reform could not proceed smoothly.

Li Ning Co official of the public relations department did not give any other reasons for his resignation.