Friday, June 14, 2024

Min Hee-jin retained her position at ADOR, but HYBE fired two of her collaborators and appointed three other people

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Three people recommended by HYBEhome of BTS, were named, this Friday, as new members of the board of directors of ADORa K-pop agency that has the popular girl group under its wing NewJeans.

Who is the CEO of ADOR

The executive director of ADOR, Min Hee-jin, retained his position during the extraordinary shareholders meeting, held in Seoul, despite the meeting’s initial agenda to remove her.

The measure takes place after the decision, made on Thursday, by a local courtto grant an injunction to prevent HYBE, the record label’s parent company, from exercising its voting rights, at the shareholders meeting, to fire her.

Bang Si-hyuk and Min Hee-Jin
HYBE founder Bang Si-hyuk, and ADOR CEO Min Hee-Jin

Sources identified the three new board members as HYBE’s human resources director, Kim Ju-youngits strategy director, Lee Jae-sangand its financial director, Lee Kyung-jun.

The two previous board members, identified only as Shin and Kim – who were close collaborators of Min – were removed from their positions.

HYBE, which owns 80 percent of ADOR shareslaunched a surprise audit against Min, and subsequently filed a lawsuit against her, for breach of fiduciary duties, late last month, accusing her of conspiring to usurp control of ADOR and take NewJeans with her.

Min strongly denied the allegations and requested an injunction to prevent Hybe from exercising her voting rights to remove her as CEO of ADOR, during the next shareholders meeting. Min cited the protection of ADOR artists and its corporate value as reasons for requesting the injunction.

What groups does HYBE have?

HYBE is a South Korean company established in February 2005 by Bang Si-hyukThe company operates as a record label, talent agency, music production company, event management, concert production, and as a music publishing company. He owns multiple record labels, including Big Hit Music (BTS), Source Music (LE SSERAFIM), Pledis Entertainment (SEVENTEEN), Belift Lab (ILLIT), KOZ Entertainment, ADOR (NewJeans), HYBE Labels Japan, NAECO, Big Machine Label Group, QC Music and HYBE UMG.

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