Former SM Entertainment CEO Lee Sung Soo returned as a C-level executive, unlike his promise.
Previously, Lee Sung Soo promised he will resign as a director and return to the status of an employee in the company's music branch. But on April 14th, it was reported Lee Sung Soo returned as a CAO of the A&R branch of SM Entertainment. He is also the head of the international unit of the A&R branch. Jang Jae Ho, who is known to be Lee Sung Soo's man, has also returned to the company as CSO. Jang Jae Ho initially resigned last year after having a conflict with former PD Lee Soo Man.
SM Entertainment previously had 5 positions in its C-suite but after the latest restructuring, the positions have expanded to 10. One industry insider commented that this is an unusual practice compared to other entertainment companies, given the size of the company.
C-level executives get a right to vote on important business decisions along with CEO. An insider commented, "It seems the two former co-CEOs still are practically in power. All five production centers are under Tak Young Joon COO and the most important department's head is Lee Sung Soo CAO. I wonder if the company could operate independently if this structure is something permanent."
https://news.google.com/rss/articles/CBMiggFodHRwczovL3d3dy5hbGxrcG9wLmNvbS9hcnRpY2xlLzIwMjMvMDQvZm9ybWVyLXNtLWVudGVydGFpbm1lbnQtY2VvLWxlZS1zdW5nLXNvby1yZXR1cm5zLWFzLWEtYy1sZXZlbC1leGVjdXRpdmUtdW5saWtlLWhpcy1wcm9taXNl0gEA?oc=5
2023-04-15 22:43:00Z
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