(Yicai Global) Sept. 2 -- China's Li Ning has appointed Kosaka Takeshi, former chief operating officer of Uniqlo China, as the sportswear firm's new joint chief executive and executive director.

Li Ning, the founder of the brand, has been redesignated as a joint CEO, and he will continue to work closely with the management team, focusing on the overall control and strategic planning, the Beijing-based company announced today.

Li Ning's [HKG:2331] share price rose 2.2 percent to HKD23.70 (USD3) this morning. 

Editor: Emmi Laine