HYBE Reportedly Selected Candidates To Replace Min Hee Jin & ADOR’s Executive Board Members

It has been reported that HYBE is in the process of selecting new individuals to replace Min Hee Jin and other members of the ADOR board.

On May 23, a Korean news outlet published an exclusive report revealing HYBE’s intention to replace Min Hee Jin and other members of the ADOR board by handpicking potential candidates.

According to a report from the investment banking (IB) industry released on May 22, HYBE is currently considering appointing its Chief Security Officer (CSO) Lee Jae Sang as the new CEO of ADOR, replacing Min Hee Jin.

The other members of ADOR’s board will now be filled by HYBE’s Chief Human Resources Officer (CHRO) Kim Joo Young and Chief Financial Officer (CFO) Lee Kyung Joon, replacing the previous members.

The upcoming meeting of ADOR’s shareholders on May 31 will include the appointment of three board members, who will serve as the new officials on the board of directors. Two agenda items will involve the dismissal of Min Hee Jin and the appointment of the aforementioned board members.

Lee Jae Sang was chosen as the top candidate for CEO by HYBE, who had also selected him as their top choice for SM’s board of directors during their attempted acquisition of SM Entertainment. This led to him becoming the leading candidate for CEO among HYBE’s roster of C-level directors.

During that period, Lee Jae Sang, the CEO of HYBE America, was anticipated to become the CEO of SM Entertainment as well, if HYBE had acquired the pioneering company. Additionally, Lee Jae Sang stated that HYBE had effectively managed the main business of “SM 3.0.”

The director previously proposed conducting a thorough evaluation of SM’s existing strategy and procedures, which are derived from HYBE’s business model.

“Additionally, Kim Joo Young, who serves as HYBE’s Chief Human Resources Officer, holds the distinction of being the first female to lead the HR division at Yuhan Kimberly, a company under HYBE. Prior to joining HYBE, she was the head of HR at KRAFTON, a software company, and was recruited by HYBE during this position.”

CFO Lee Kyung Joon has experience in accounting at various companies, including Samil PwC, PwC Sydney, and the law firm Kim & Chang. He is also credited as the main driving force behind HYBE KOSPI’s successful listing. Additionally, Lee Kyung Joon currently holds a position as an in-house director at Source Music.

According to reports, HYBE plans to take advantage of this opportunity to implement a dual leadership structure for ADOR. It was also revealed that all of HYBE’s labels operate under this format, except for ADOR where Min Hee Jin holds both positions of Chief Executive Officer and Chief Production Officer.

What Is 'Project 1945'? Document That HYBE Discovered From ADOR's Files — (Photo : Min Hee Jin (Osen))

“A senior representative from HYBE has stated that the appointment of directors at ADOR’s shareholders meeting on the 31st will not be officially announced. The representative added that it is more efficient for each individual to focus on their expertise in production and management.”

The official expressed concern about having one person be in charge of both roles. In addition, HYBE is currently searching for a suitable candidate for the Chief Production Officer position.

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