HYBE To Reveal Plans For New ADOR’s Management Early Next Week

According to a report from Tenasia released on May 21st, HYBE is currently open to receiving more applications for the role of ADOR’s new CEO from both internal and external candidates until May 24th. It has also been reported that they are actively seeking out potential candidates who are well-suited for the position. There is speculation within the industry that the selection process for the new ADOR CEO may consider both domestic and international personnel with experience in the artist-related field.

The outcome is anticipated to be announced in the beginning of the following week, once the application and recommendation procedure has been finalized. Prior to the shareholders’ meeting on the 31st, HYBE intends to perform a background check and verify the shortlisted candidates, and then appoint a new CEO and establish a new board of directors for ADOR. This process will begin on the 25th.

If everything goes according to HYBE’s plan, Min Hee-jin will be removed as CEO on May 31st and ADOR will be limited.

Despite facing challenges, HYBE must find a way to overcome them. As the majority shareholder with 80% ownership of ADOR’s shares, HYBE is expected to remove Min Hee-jin by using its voting powers. As a result, Min Hee-jin has taken legal action by filing a provisional injunction to prevent HYBE from exercising its voting rights during the shareholders’ meeting.

An interrogation was held on the 17th for the provisional injunction that Min Hee-jin filed against HYBE. The court’s decision is anticipated to have a considerable impact on the situation. The court will communicate the outcome of the injunction to both parties before the scheduled shareholders’ meeting on the 31st.

If the injunction is denied, HYBE has the authority to immediately remove Min Hee-jin from the CEO position and replace ADOR’s board of directors in order to resolve the situation.

If the court decides to grant Min Hee-jin’s request, HYBE’s plan will face disruption. In response, HYBE may opt to file an appeal against the court’s ruling or present additional evidence and hold another temporary shareholders’ meeting.

Meanwhile, HYBE is getting ready to support the future activities of NewJeans members and take care of them following the dismissal of CEO Min Hee-jin.