On April 22nd, the public learned of a dispute between HYBE and CEO Min and ADOR’s executives. HYBE had launched an audit against them, alleging that they were trying to take control and providing evidence to support their claims. CEO Min held a press conference to refute these accusations, denouncing HYBE’s unexpected audit and accusing them of mistreating NewJeans.
As the conflict intensifies, HYBE persists in its demand for the removal of CEO Min, accusing her of violating her duties and trying to take over management control. However, CEO Min refutes these allegations, citing unjust shareholder agreements and mistreatment of NewJeans. This dispute has escalated to the point of legal action, with CEO Min seeking a court order to prevent her termination. The final decision on this matter will be made at ADOR’s extraordinary shareholders’ meeting on May 31st.
Despite HYBE’s promises to continue supporting NewJeans, fans are worried that the ongoing dispute may lead to neglect of the group if CEO Min is removed. However, industry experts argue that this is unlikely as NewJeans plays a crucial role in HYBE’s revenue and has a strong fanbase. In fact, an industry insider believes that neglecting NewJeans would be detrimental to HYBE and suggests that they may even increase their support to improve the group’s public image and achieve greater success under new leadership.
The main worry is that without CEO Min, who has played a crucial role in shaping NewJeans’ identity, the group may struggle to maintain their distinct style and direction. The departure of CEO Min could result in modifications to the group’s management and creative direction, potentially impacting their individuality and popularity. Fans are concerned that NewJeans may lose the special allure that distinguished them in the K-pop industry.
HYBE is currently tasked with the responsibility of upholding NewJeans’ identity and fulfilling their commitments to provide assistance, should CEO Min be ousted. Failing to uphold NewJeans’ well-known image and achievements could result in a major crisis for HYBE, extending beyond the present dispute.
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