Three Li Ning executives quit

The chief operating officer, chief marketing officer and head of e-commerce at Li Ning (2331.HK) all announced their resignations from the company, the Wall Street Journal reported, citing a company statement to the Hong Kong stock exchange. While the firm said that the three had “resigned from their respective positions with the Group to pursue their personal interests,” the resignations come at a time when Li Ning is widely seen to be shifting course. The sports-apparel firm has been expanding its presence within China and making limited forays abroad, hoping to successfully take on the likes of Nike (NKE.NYSE) and Adidas (ADS.FWB). However, the firm also faces rising production costs in China and lower order volume.