Lining Starts Management Pition Program, Jin Zhenjun Retire Will Introduce Professional Managers

Since then, Kim Chun Jun has been leading a series of airborne Lining.

The reform, including platform building, executive introduction, and the implementation of the three stage of reform and three focus strategy, launched from the brand value orientation, product innovation, sports marketing to optimize the channel and other initiatives.

Although Lining's employees called it "savior", Jin Zhenjun's experience did not seem to bring Lining a miracle of achievement.

2012, the two consecutive losses in 2013, respectively, loss of 1 billion 979 million yuan and 392 million yuan, in the first half of this year, when many other sports brand net profit performance improved, Lining is still a huge deficit of 586 million yuan.

In response to the decline in performance, Lining, a responsible person, explained to the Beijing Commercial Daily reporter that the company is still at a critical stage of pformation, and has continuously invested in many aspects such as channel adjustment and brand building.

In November 17th, Li Ning Co Ltd announced that Kim had been reappointed as deputy chief executive since November 14th.

But Mr Kim will continue to serve as executive vice chairman and executive director of the board of directors, as well as members of the Executive Committee of the board.

This is also the second time that Li Ning Co has replaced chief executive officer in two years.

In July 4, 2012, Lining announced that Jin Zhenjun and Lining jointly performed the position of chief executive, and then said they were looking for the right candidate. But in March 21st of this year, Jin Zhenjun was officially appointed as the acting chief executive, who was less than 8 months away from office.

Lining responded to reporters, "before being appointed as chief executive officer to facilitate his performance of duties, through thorough and prudent process, Lining has made good progress in identifying chief executives. The board expects to announce the appointment of new president in the near future."

Between Jin Zhenjun's advance and retreat

There is a saying about Kim Chun Chun's departure.

In July, it came out of office in October and passed away in December in October. Lining's announcement now officially announced that Jin Zhenjun had officially left the chief executive.

Unlike former Zhang Zhiyong's departure, Kim's departure from the industry seems to be more of a return to the role of investors.

"He volunteered to leave."

A person familiar with the matter told the economic news reporters in twenty-first Century, "about 5 and June this year, he had his own resignation. In June, Hongkong headhunters were looking for people everywhere.

He is an investor and has been stationed in Lining for more than two years. It is neither profitable nor profitable for him. "

In July 2012, Lining was in the greatest crisis.

Brand remolding failure, high level turbulence, stock price crash...

At that time, the departure of Zhang Zhiyong, chief executive officer, made Lining worse.

And Jin Zhenjun himself was "ordered to be in danger". On the one hand, he made bold efforts to carry out a series of reforms to Lining.

From the adjustment of organizational structure to the replacement of management, to the three stage of reform that is still being carried out by Lining, the Lining direction given by Jin Zhenjun is not wrong in the eyes of the industry. The first stage takes 6 to 12 months to solve 6 short-term problems, such as inventory, cost, organizational execution capability, channel, core business and improving marketing efficiency. In the second stage, from 2012 to 2014, the supply chain management, marketing and product planning models were improved, including product development and consumer experience, so as to consolidate the leading position of Lining brand in the Chinese sporting goods market. The third stage started from 2 to 4 years to pform the business mode, while improving the retail efficiency and return on investment while meeting the consumer's brand experience.

At the end of 2012, Lining announced a "channel revival plan" at a cost of 1 billion 400 million to 1 billion 800 million yuan to speed up the clearance of inventory, which made Lining lose 1 billion 979 million yuan in 2012.

Although the direction is not wrong, but the big investment has not been effective. In the middle of last year, Jin Zhenjun said in the performance press conference that the worst time had passed, but the performance in the middle of this year was even worse.

Lining's semi annual report released in August 14th showed that, with the increase of 8%, it still lost 586 million yuan, compared with a loss of 184 million yuan in the same period last year.

In the industry gradually warming up, Lining continues to maintain losses and expand the deficit, which makes the outside world constantly speculate whether the departure of Kim Chun Jun also means that its leading "three stages of change" and "channel revival plan" failed.

But the key way, CEO Zhang Qing, in an interview with the twenty-first Century economic news reporter, said: "Jin Zhenjun's departure from office was essentially different from Zhang Zhiyong's departure two years ago.

As a representative of the capital to enter Lining, and then take up important positions in the pitional period and make strategic direction, his role is pitional. The chief executive can not be a permanent solution.

In Zhang Qing's view, Lining's time for two years is worth affirming: "Lining is a boat difficult to make a U-turn. After experiencing the mistakes of the year's direction, we should change direction and determine the direction. After these bases are laid, we can find professional managers to operate in accordance with the established direction."

But the TPG management represented by Jin Zhenjun was too optimistic about Lining's problems, which led to a loss at the moment.

Lining himself recognized Jin Zhenjun's performance in two years.

"In the past two years, Mr. Kim has done a lot of useful work for the company's change plan.

The board expects to announce the new chief executive candidate in the near future.

In view of Mr. Kim's other duties in TPG, he himself and I, as well as the board of directors, agreed that we should start the management pition plan.

I will deeply intervene in the daily management of the company and deepen the reform strategy in the pition period.

Lining said.

From Chen Yihong to Zhang Zhiyong and then to Jin Zhenjun, every time Lining leaves office, Lining himself will intervene in the company's daily management in a short and deep way, and whether Lining will really return to the Li Ning Co is also a question.

"Our industry sometimes thinks, who can be more suitable for Lining?" Zhang Qing said, "but Lining himself can not return. He hasn't really managed himself for so many years. This time he should wait for the right professional manager to join the team."

In the future, Li Ning Co will continue to follow the established target, and has completed the stage of business restructuring.

The above insider said that Jin Zhenjun's previous practice was quite right, but underestimated the degree of internal friction of Li Ning Co, and its reform also touched many people's interests, though violent, but it was difficult to touch the root.

Whoever is taking over Lining at this stage is a great challenge.

It is very difficult to determine whether Lining and TPG have decided on the direction, whether they will go down in the direction or not, until the new chief executive will come back again.

If it is the latter, it will be terrible for Lining, and the internal friction will be huge.

Zhang Qing said.

For Lining's new chief executive, the people familiar with the matter told the twenty-first Century economic news reporter that Lining had worked as an agent in Spain, and that he would soon be the successor or the company's top brass.

But there are still concerns in the industry whether foreign expatriates will be more acclimatized, and foreign managers will face greater challenges compared with Jin Zhenjun and Zhang Zhiyong.

"The sports industry will have another ten years of gold in the future. The consumption drive has been upgraded from the leisure field to the national fitness program. However, the Chinese market is so large that Lining's direction will still develop again, but we must solve the problem of managers."

Zhang Qing said.