Min Hee-Jin Wins Injunction Against HYBE, To Continue As ADOR's CEO - Times Now

Min Hee-Jin Wins Injunction Against HYBE, To Continue As ADOR's CEO

Min Hee-jin will not be stepping down as ADOR's CEO. The former creative director has reportedly won her injunction against HYBE.

Min Hee-jin to continue as ADOR's CEO

On May 30, South Korean media outlet Sports Kyung Hyang reported that ADOR CEO Min Hee-jin won her injunction against HYBE in the court.

So, what does this mean? Well, this means HYBE can't dismiss Min Hee-jin as from her position as ADOR's CEO. The decision stops HYBE's attempt to force ADOR to hold a shareholder’s meeting on May 31 during which the label could have use its 80% shareholder rights to force Min Hee-jin out of ADOR. With the injunction granted, Min Hee-jin is expected to continue as ADOR CEO.

Just a couple of days back, HYBE was reported to selected a new CEO and board of directors for ADOR. According to investment industry insiders, HYBE's current chief strategy officer (CSO) Lee Jae-sang was reportedly set to replace Min Hee-jin as the CEO of ADOR. Meanwhile, HYBE's chief human resources officer (CHRO) Kim Joo-young and HYBE's chief financial officer (CFO) Lee Kyung-joon were rumoured to be board member candidates.

HYBE vs ADOR controversy

HYBE and ADOR have been in the midst of a feud since April 22 this year, when HYBE initiated an audit against ADOR CEO Min Hee-jin. The agency accused ADOR's CEO and management of devising a plan to gain complete control of the sub-label, leaking sensitive information and attempts to tarnish the reputation of HYBE and its artists.

Following the audit, Min Hee-jin held a press conference on April 25 to tell her side of the story. During the press conference, the ADOR CEO denied claims of a takeover, exposed chats with HYBE founder Bang Si-hyuk and clarified rumours about a shaman being involved in all her label-related decisions.

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2024-05-30 09:29:50Z

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