Zhang Zhi Yong has resigned as a non-executive director of Li Ning. The Chinese sports company said that the resignation became effective on Oct. 6 and had to do with his personal and other business commitments – rather than any disagreement with the board. Zhang was the chief executive at Li Ning until July 2012 but quit that job after the company unveiled a plunge in profits for the previous year. Since then the company has been effectively led by Li Ning himself as executive chairman and by an interim CEO, Jin-Goon Kim. He is a partner of TPG Capital, which is a major investor in the Chinese group.

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