Li Ning Company, Ltd. announced that Terence Tsang, its chief financial officer, has retired due to retirement age. 

Tsang confirmed that he has no disagreement with Li Ning’s board and that no other matters relating to his retirement need the attention of the company’s shareholders or The Stock Exchange of Hong Kong Limited.

In a statement, Li Ning said, “The Board would like to express its sincere gratitude to Mr. Tsang for his invaluable contribution to the Group in the past years. Mr. Tsang’s retirement will not affect the normal business operation and management of the company. The company is in the process of identifying a suitable candidate to fill the vacancy

of Chief Financial Officer of the company and will make a further announcement once such appointment is confirmed.”