LI NING COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
LI NING COMPANY LIMITED李 寧 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2331)
DUTIES OF THE CHIEF EXECUTIVE OFFICER
The board of directors (the "Board") of Li Ning Company Limited (the "Company") announced on 4 July 2012 when Mr. Zhang Zhi Yong stepped down as the Chief Executive Officer of the Company that the Chief Executive Officer's duties would be performed jointly by Mr. Li Ning, the Executive Chairman and an executive director of the Company, and Mr. Jin-Goon Kim ("Mr. Kim"), the Executive Vice Chairman and an executive director of the Company. The Board further announced that, with effect from 21 March 2014, Mr. Kim was appointed as the Interim Chief Executive Officer in order to facilitate his performance of such shared duties. Since then, after a thorough and discreet search process, good progress has been made in identifying the Chief Executive Officer candidate and the Board expects that the appointment of the new Chief Executive Officer can be announced in the near future.
To facilitate a smooth transition to the new Chief Executive Officer, the Board announces Mr. Kim will step down from the position of Interim Chief Executive Officer as of 14 November
2014; and until the new Chief Executive Officer takes office, the Chief Executive Officer's duties will be performed by Mr. Li Ning and supported by the incumbent senior management of the Company. Mr. Kim will remain as Executive Vice Chairman and an executive director of the Company and will continue to provide guidance and support during this transition period while attending to other responsibilities as a Partner of TPG, a leading global investment firm. Such transitional arrangement will cease when the new Chief Executive Officer reports duty. The Company will make further announcement(s) pursuant to Rule
13.51(2) of the Listing Rules or otherwise to update the public with development in this regard.
The Board would like to express its gratitude to Mr. Kim for his contributions to the
Company during his tenure of office as Interim Chief Executive Officer.
By order of the Board of Li Ning Company Limited Li Ning
Executive Chairman
Hong Kong, 14 November 2014
As at the date of this announcement, the executive directors of the Company are Mr. Li Ning and Mr. Jin-Goon Kim. The non-executive director is Mr. Chen Yue, Scott. The independent non-executive directors are Mr. Koo Fook Sun, Louis, Ms. Wang Ya Fei, Dr. Chan Chung Bun, Bunny and Mr. Su Jing Shyh, Samuel.
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