Li Ning, the troubled Chinese sportswear brand, is in the market for a new chief executive after the departure of the TPG partner installed two years ago to try to engineer a turnaround at the company which is one of the most famous locally-grown Chinese brands.
The company, which is backed by TPG Capital, reported first half net losses of Rmb585.8m earlier this year, three times as much as the year earlier net loss of Rmb184m.
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