Big Hit Entertainment restructures its leadership

Big Hit Entertainment's chief management, from left: Chairman Bang Si-Hyuk, Global CEO Yoon Seok-jun, HQ CEO Park Ji-won. [BIG HIT ENTERTAINMENT]

Big Hit Entertainment restructured its chief managerial post to put Bang Si-hyuk at the forefront of the company’s decision-making, the agency home to K-pop megastar BTS said on Monday.

According to the agency, Bang was elected as the sole head of the board of directors of Big Hit Entertainment as well as the chairman of the company at a shareholder meeting held on April 20. At the same time, Yoon Seok-jun was appointed as the CEO of the global and business department and Park Ji-won as the CEO of the HQ and management department.

Bang and Yoon had been jointly leading the company as co-CEOs before this meeting.

“The chief management reform is aimed to make Big Hit a world-leading entertainment company by building on its current success,” the agency said.

“The changes represent the first step in proactively transforming the internal and external environments of the entertainment industry with its ever-growing complexity as well as to emphasize a management system based on the highest standard of accountability.”

With the new system, Bang will take the lead in shaping the future plans of his company, making the final call on the company’s core businesses and music producing.

Yoon will be in charge of the overseas localization tasks, especially in Japan and North America. Big Hit Entertainment recently founded an American branch to aide in his goal.

Park, newly appointed to his post, will be in charge of managing the business and company in Korea by renovating the company’s structures. He had previously been in charge of management at local game publisher Nexon.

“Big Hit will continuously innovate and grow the global entertainment industry by applying its success formula based on a more efficient and stable management structure under the new leadership,” the agency said.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]