HYBE replaces ADOR’s deputy and in-house director with three new board members, retains Min Hee Jin as CEO
HYBE has made the choice to brush aside two key workers at ADOR; deputy and in-residence directors with new executives of their very beget. Read on for additional info.
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HYBE dismisses ADOR’s executives and appoints new directors
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More about HYBE and ADOR’s battle
ADOR’s CEO, Min Hee Jin, won the injunction against HYBE, which prevents the latter from participating within the shareholder’s assembly to be held. On the replacement hand, the conglomerate has plans of its beget and replaced two basic executives from the model, the deputy and in-residence director, with three new executives, that can perchance well also result in drastic adjustments within the firm.
HYBE dismisses ADOR’s executives and appoints new directors
On Could well 31, 2024, a South Korean media outlet reported that HYBE has employed three new executives in ADOR following the injunction apt combat with the model. CHRO (Chief Human Resources Officer) Kim Joo Younger, CSO (Chief Strategy Officer) Jae Sang Lee, and Chief Monetary Officer (CFO) Kyeong Jun Lee are the three new interior directors who were employed by HYBE to be share of ADOR’s board of participants. Vice President Shin and Director Kim, who were the present executives in ADOR and on Min Hee Jin’s aspect, were pushed aside.
Beforehand, HYBE submitted an utility to the court searching for permission to wait on a specific shareholders’ assembly to brush aside ADOR’s CEO, Min Hee Jin, from the firm. In response, Min Hee Jin filed for a provisional injunction to forestall HYBE from exercising its voting rights. On the Thirtieth, the court upheld Min Hee Jin’s inquire for a provisional injunction, affirming her dwelling as CEO.
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On the replacement hand, HYBE has answered to the ruling by saying that they recognize the choice made by the court and must light stand by it. The firm is potentially now not exercising its apt to brush aside Min Hee Jin from the CEO dwelling. To boot they added that the CEO has been plotting against HYBE to weaken their wait on watch over in ADOR and power them to sell the shares, which is able to give her plump wait on watch over of the model.
More about HYBE and ADOR’s battle
The battle between HYBE and ADOR started when the outdated school conducted an audit, including that of the CEO, Min Hee Jin, after the knowledge rolled out that they were making an attempt to separate administration rights. HYBE despatched a letter asking Min Hee Jin to step down from the CEO dwelling. On the replacement hand, Min Hee Jin denies the accusations and argues that the principal scenario is about BELIFT LAB copying the ideas from NewJeans for their newly formed lady neighborhood, ILLIT.
Source credit : pinkvilla
