Fairlane Raymundo
patreon
2 ADOR Board Members Were Replaced
🕑 Added 2024-05-31 02:20:29 +0000 UTCThe two Ador board members were dismissed and replaced with three Hybe officers. Kim Joo-young, Chief Human Resources Officer (CHRO), Lee Jae-sang, Chief Strategy Office (CSO), and Lee Kyung-joon, Chief Financial Officer (CFO) were appointed at the EGM.
https://x.com/yonhaptweet/status/1796342993731137769
UPDATE #1
OLD SET UP OF THE BOARD
3 Members = Min Heejin + 2 MHJ-appointed members
NEW SET UP OF THE BOARD
4 Members = Min Heejin + 3 HYBE-appointed members
Kim Ju Young, Lee Jae Seong and Lee Kyung Jun.
Lee Jae Seong was or is COO of HYBE America.
====
Three new executive directors recommended by HYBE were appointed as executive directors for ADOR, the agency of the girl group NewJeans.
CEO Min Hee-jin retained her position the previous day due to a temporary injunction, resulting in a reorganization of ADOR's board of directors into a 1:3 structure.
According to the music industry on the 31st, ADOR held an extraordinary shareholders' meeting in downtown Seoul this morning and appointed Kim Joo-young (CHRO), Jae-sang Lee (CSO), and Kyeong-jun Lee (CFO), all recommended by HYBE, as new directors.
Deputy CEO Shin and Director Kim, who were close associates of CEO Min and existing ADOR internal directors, were dismissed.
CEO Min remained in her position as the court accepted her request for a temporary injunction the previous day, prohibiting the exercise of voting rights. As a result, HYBE agreed to the 'removal of executive director Min Hee-jin', preventing them from exercising their voting rights.
PERSONAL NOTE FROM ME: It just got interesting. I would volunteer to watch the CCTV cameras 24/7
