Curated By ZenithOptimedia, The ROI Agency
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Hong Kong - Chinese sports brand Li Ning has remained coy over details of what appears to be the departure of three senior executives from its marketing and e-commerce teams.
A Li Ning spokeswoman said the three were chief operating officer Guo Jian-Xin, chief marketing officer Fang Shih-Wei and e-commerce manager Lin Li.
In a statement Li Ning said that the departure constitutes normal changes to the group's management staff.
"All the strategies and operations that the group is carrying out will not be affected by the departure of individual employees," the statement said.
However this did little to ease the concern of investors, with its shares falling 9% in Hong Kong since the announcement.
Last year in an attempt to revitalise the brand, Li Ning adopted new logo and slogan to take its products up market and present itself as not another cheap manufacturer.
In the past the company has signed partnerships with NBA stars such as Evan Turner and Shaquille O'Neal in order to draw attention from the international market.