HYBE Calls for Resignation of ADOR CEO Min Hee Jin – Implications for NewJeans?

Recently, it was disclosed that HYBE has required the resignation of Min Hee Jin, the CEO of ADOR.

Since its debut in 2022, NewJeans has been acknowledged as the brainchild of Min Hee Jin. As a former creative director at SM Entertainment, she has previously crafted successful concepts for groups like f(x), SHINee, EXO, and Girls’ Generation, making fans eager to see her creative input in NewJeans.

What will happen to NewJeans if she leaves? Keep reading to find out all the details!

HYBE Calls for Min Hee Jin’s Resignation as ADOR CEO

On April 22, 2024, it was announced that HYBE had requested for Min Hee Jin to step down as CEO of ADOR after an audit.

HYBE Demands Min Hee Jin Resign as ADOR CEO — What Does This Mean For NewJeans?(Photo : Min Hee Jin Instagram)

HYBE allegedly conducted an investigation of its branch, ADOR, and initiated their privileges as stockholders. They requested that a shareholders’ meeting be organized for ADOR and that Min Hee Jin, the CEO of ADOR, step down from her position.

Upon discovering that ADOR was attempting to gain full control over the company and separate from its parent, HYBE exercised its right to request an audit and took immediate action.

The audit revealed that ADOR was engaging in the disclosure of confidential information in order to entice potential investors and also attempting to persuade HYBE to sell its shares. Currently, HYBE holds an 80% ownership stake in ADOR, while the remaining 20% is under the control of ADOR’s board of directors. Within this 20%, Min Hee Jin possesses 18%.

According to reports, an unnamed individual, referred to as A, allegedly misused their role in the investor relations team of HYBE to share internal information with ADOR. This included confidential documents, trade secrets, and other information related to ADOR’s separation from HYBE, which were eventually leaked.

According to reliable sources within the industry, HYBE made a request on April 22 for a shareholders’ meeting to be held with the board of directors of ADOR. This was in response to the current management’s attempt to gain control and also to add directors from HYBE’s team.

The alignment of the shareholders’ meeting with HYBE’s demands remains uncertain. A decision from ADOR’s board of directors is necessary for the meeting to take place. Currently, the two internal directors of ADOR are individuals who have been working with Min Hee Jin since her tenure at SM Entertainment.

If HYBE’s demands are rejected by ADOR, it is highly probable that HYBE will turn to legacies. The court’s rulings may result in personnel from HYBE being added to ADOR’s board of directors.

HYBE has also issued a demand letter to Min Hee Jin, requesting her resignation from her position. It is anticipated that Min Hee Jin will decline to step down and instead launch a retaliatory attack against HYBE.

What Does This Mean for NewJeans?

Currently, ADOR exclusively represents NewJeans, an artist who has gained great success under HYBE Labels. This has sparked curiosity about the implications for the girl group.

NewJeans has recently revealed that they will be making a comeback in May and will also be making their debut in Japan in June. However, with the ongoing tension between ADOR and HYBE, it remains uncertain whether NewJeans’ plans will be affected.

There is also concern about NewJeans’ identity in the event of Min Hee Jin’s resignation. While their success is largely attributed to Min Hee Jin’s vision, it was the financial support from HYBE that brought that vision to fruition.