Lining CEO Zhang Zhiyong Resigned Accused Of Paying For Strategic Mistakes

International executives have another earthquake.

In July 5th, Lining announced the latest management changes, and Zhang Zhiyong, the CEO of the company who served for more than 20 years, left office, but remained executive director.

Before hiring the new chief executive, the group will be headed by Lining, founder and executive chairman, and executive vice president Jin Zhenjun.

Lining will take charge of the company's external affairs and relations at the window of the chief executive, such as the partnership with the Chinese men's basketball professional league (CBA). Jin Zhenjun is responsible for the internal affairs and operation of Lining group, and promotes group pformation during the pition period.

Since the second half of 2011,

News kept on.

Almost every executive leaving is said to have no influence on its strategy. However, since the personnel earthquake, Zhang Zhiyong has also paid for the previous strategic mistakes.

Beginning in 2009,

In the face of the cost boom, Lining, the biggest sportswear giant, made the biggest strategic change in his company's history so far in June 2010: reshaping the brand to catch young consumers.

However, contrary to expectations, whether the sixth generation flagship store is opened or the price is close to the international brand, the data in its financial statements actually reflect the strategy and have not achieved any results and bring it to a deeper mire.

In 2011, Lining's annual income was 8 billion 929 million yuan, although this figure is higher than Anta, XTEP, 31st degree and PEAK, but its net profit is only 386 million yuan, and can only be placed in the bottom of the five brands.

The fourth quarter of the first quarter of the order has also declined, of which clothing orders 20% decline.

Even so, Lining became the equipment sponsor of the Chinese men's Basketball League (CBA) in June 11th and signed the agreement covering five seasons from 2012/2013 to 2016/2017.

For this reason, Li Ning Co also had to predict that the net profit of 2012 to full year will decline considerably as the promotion cost will increase substantially in the next few years.