Lining Appointed Former DELL High Level Zhong Yiqi As CFO.

4 months after the resignation of former chief financial officer Chen Weicheng, Li Ning Co Ltd (02331, HK) announced yesterday that it appointed DELL (China) former high level Zhong Yiqi as executive director and chief financial officer (CFO) of the company, and its appointment came into effect on February 9th.

Lining disclosed that 41 year old Zhong Yi Qi has 17 years of experience in accounting, finance and business management.

Prior to joining Lining, Zhong Yiqi was the senior financial controller of DELL (China) Limited.

According to the notice, the contract between Zhong Yiqi and Lining is three years, and the annual salary and director allowance of Zhong Yi Qi are 1 million 910 thousand yuan. He also enjoys year-end bonus, participation in company stock plan and other benefits and allowances.

Lining announced in September last year that Chen Weicheng, executive director, chief financial officer and company secretary, had resigned to develop his personal career.

At that time, the announcement disclosed that Chen Weicheng's resignation came into effect in December 1st last year.

Lining fell 1.43% on Monday to HK $11.02.