HYBE, looking for a new executive to replace Min Heejin... "Protecting NewJeans is a priority"

 May 23, 2024

HYBE internal executives selected as candidate for new management

"Current temporary lineup... Afterwards, we officially recruit him"

HYBE selected HYBE internal executives Kim Joo young, CHRO (Chief Human Resources Officer), CSO (Chief Strategy Officer) Lee Jaesang as the new management lineup to replace ADOR CEO Min Heejin.

CEO Park Jiwon held a town hall meeting at HYBE's in-house on the 22nd and said, "We are struggling with the members' careers and psychological stability measures," adding, "We are drawing a way to grow ADOR healthy with the current members of ADOR."

Park Jiwon said, "Pleas wait as we are preparing for ADOR to quickly return to its proper place and to be able to carry out all tasks normally," he added, "We are prioritizing protecting members and artists in the process of solving the current situation.".

In particular, he stressed, "The current issue is a limited issue that applies only to some, not all of ADOR," adding, "I would like to clarify that we will continue NewJeans' activities more solidly with members of HYBE and ADOR."

HYBE reportedly proposed the dismissal of executives such as current CEO Min Heejin, as well as the appointment of CSO Kee Jaesang and CFO Lee Kyung Joon as an agenda for the ADOR extraordinary shareholders' meeting to be hold on the 31st. 

HYBE said, "(Among candidates for board directors) there has been no decision on the CEO of ADOR. It is also not true that (some reports) suggest that other labels can take charges of production. We will disclose the roles and scope the three candidates, as soon as we decided on how to stabilize the organization and support the organization."

The three candidates for in-house directors, consisting of HYBE's internal executives, are a kind temporary lineup that focuses on management, and are reportedly planning to formally recruit new executives when the conflict ends.

HYBE's plan can only be realized if the court does not accept Min Heejin's request for provisional injunction to ban her exercise of voting rights. A decision on the provisional injunction application is expected next week.

Original article: Seoul Newspaper