The World: Shanghai - Li retires as chief of ZenithOptimedia in China

Lee Li is retiring as the chief executive officer of ZenithOptimedia China and leaving the industry completely.

His unexpected departure from the agency he has run for the past nine years has led industry insiders to speculate that he was forced out of the role.

However, in a statement Li, 46, said: "I planned to retire about two years ago and my decision has been supported by head office. I am looking forward to spending time with my family."

The Optimedia chief executive officer, Steve Chang, and the Zenith China chief executive officer, Alex Abplanalp, will now report to Phil Talbot, ZenithOptimedia's regional head in Asia-Pacific.