Min Hee Jin was removed from her position as CEO of ADOR, a subsidiary of HYBE, on Tuesday, 27th
ADOR, a subsidiary of the HYBE conglomerate, announced this Tuesday, 27th, the dismissal of the CEO of Min Hee Jinrevealing that she will now remain only as an internal director, in addition to continuing to oversee NewJeans. Regarding the decision, a representative for the businesswoman stated that “it was not discussed with her” and that this is a “unilateral notification from the company.”
[Min Hee Jin] was suddenly notified on Saturday, 24th [agosto] that a board meeting would be held on 27th [agosto] about a change in the CEO position, and she attended the meeting by phone on 27 [agosto].
The decision to dismiss CEO Min Hee Jin was made unilaterally, without her consent, which is a clear violation of the shareholders’ agreement.
The company announced that CEO Min Hee Jin would continue producing for NewJeans, but this was not discussed with her and is a unilateral notification from the company,” a representative for Min Hee Jin told Maeil Business Newspaper Star Today (via Soompi).
In addition to the statement by the representative of Min Hee JinHYBE revealed more about the behind-the-scenes of the decision by stating that the date of the board meeting was adopted after suggestions from the businesswoman, who she attended by telephone. In addition, it stated that the decision did follow the shareholders’ agreement and that the measure was taken by the board after “sufficient discussion”.
The board meeting held today, along with the articles of association including the notification of agenda items and the voting procedure, was conducted in accordance with the legal procedures set forth by the Commercial Act. The meeting date was chosen from the dates previously suggested by former CEO Min Hee Jin in her request for postponement. Former CEO Min Hee Jin joined the meeting virtually, and the board made the best choice for the future of ADOR and NewJeans after sufficient discussion.”
It is worth remembering that the conflict between Min Hee Jinthen former CEO of ADOR, and the conglomerate to which the agency belongs, HYBE, began on April 22, when it was revealed that ADOR would undergo an audit after suspected attempts to have the agency become independent of the label, causing HYBE to also request that Hee Jin resigned as CEO, accused of conspiring to remove management rights from the parent company.
On May 30th, Min Hee Jin won the injunction to prevent HYBE from exercising its right to vote in favor of his dismissal at the extraordinary meeting of ADOR shareholders that took place on May 31.
In the midst of this, Min Hee Jin also accused Source Music (another HYBE label) of plagiarizing the NewJeans concept with ILLIT’s debut, sued five HYBE executives for defamation, and reportedly had a lawsuit filed by HYBE against her.
Source: Recreio
