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HYBE CFO Lee Kyung-jun, HR head Kim Ju-young in line to replace Min Hee-jin as ADOR chief

Published: 23 May. 2024, 13:46 Updated: 23 May. 2024, 14:50

LEE JAE-LIM
[email protected]

HYBE's headquarters in central Seoul [NEWS1]

HYBE has already lined up candidates to replace Min Hee-jin as ADOR CEO, just days before the Seoul Central District Court court is set to rule on Min's injunction to prevent HYBE from exercising its voting rights at her subsidiary label's shareholders' meeting on May 31.

Media outlets reported Thursday that HYBE’s candidates to lead ADOR include C-suite executives including Chief Human Resources Officer Kim Ju-young, Chief Strategy Officer Lee Jae-sang and Chief Financial Officer Lee Kyung-jun.

HYBE, which holds a majority stake in ADOR, denied the reports.

“No official decision has been made regarding ADOR’s registered CEO,” HYBE said in a statement. “Moreover, the claim that another label might take over ADOR is not true. We will disclose the roles and responsibilities of the three CEO candidates, as well as plans to stabilize the organization and other support measures as soon as they are finalized.”

HYBE’s reported plan to replace Min can only be carried out if the court dismisses the injunction.

If the injunction is granted, HYBE can either appeal the decision or gather the new evidence required to call for another shareholders’ meeting

The court ruling is expected to come out early next week.

HYBE CEO Park Ji-won assured employees that the conglomerate was “preparing for ADOR to quickly get back on track and resume all operations normally” at an internal town hall meeting Wednesday.

He added that both HYBE and ADOR will fully support the activities of NewJeans, currently the only girl group signed to the subsidiary label.

BY LEE JAE-LIM [[email protected]]