HYBE’s agency ADOR, which represents K-pop group NewJeans, decided to extend former CEO Min Hee-jin’s term as a board director but refused to reinstate her as CEO.
This is according to the company’s official statement cited by local reports in South Korea. i like it revealed, “It was decided to convene a general meeting of shareholders to vote on Min Xizhen Stay on the board.
“We have proposed to Min Hee-jin to continue serving as ” new jeans The next five years are the entire term of the girl group’s contract. [with ADOR],” the agency cited Korea JoongAng Ilbo As said.
“We look forward to discussing the detailed conditions of the transaction in the future,” the agency added.
The agency also confirmed that Min has been proposed to September 11 She will oversee NewJeans production for the next five years, coinciding with the remaining term of the group’s contract with the brand, korea times reported. However, ADOR reportedly clarified that following internal discussions, Min’s return to the CEO role “is currently considered unacceptable.”
“We have extended an invitation to Min Hee Jin to continue as a producer for NewJeans for the next five years, which is also the entire term of the girl group’s contract. [with ADOR]”.
i like it
Min’s dispute with ADOR’s parent company, HYBE, began in April, when HYBE accused her of trying to control ADOR by selling stock and potentially leaking confidential information. HYBE reportedly plans to take legal action against her. In response, Min accused five HYBE executives of defaming and leaking her private information. In addition, HYBE’s other subsidiaries Belift Lab and Source Music also accused Min of defamation and hindering their business.
Then at the end of August, ADOR replaced Min as CEO, appointing Kim Joo Young to the role. According to local media reports at the time, Min subsequently rejected the offer to continue as a NewJeans manufacturer on the grounds that the terms of the contract were “unreasonable.”
On Sept. 13, Min asked the court to force ADOR to hold a special meeting where shareholders could vote on her reappointment to the board. Most recently, on Wednesday (September 25), ADOR agreed to the request but rejected NewJeans’ request for Min to return as CEO. The organization informed NewJeans of its decision via email, korea times explain.
“ADOR’s proposal to extend my term on the board is actually dependent on HYBE Labels, and it is unclear whether reappointment will actually occur.”
Min Xizhen
After ADOR announced its decision, Min criticized the agency’s proposal as a “compromise” that did not address her main concern, which was returning as CEO. The news outlet said she accused ADOR of using “puns” and renewed her claim for the position.
“ADOR’s proposal to extend my term on the board is actually dependent on HYBE Labels, and it is unclear whether reappointment will actually occur,” Min wrote in a statement. korea times. She also rejected ADOR’s offer to remain a producer on NewJeans, claiming it contained unfair terms.
Min believes agreeing to the board term extension included in ADOR’s proposed contract could jeopardize her future at NewJeans.
“Min was concerned that extending her term under a deceptive contract might prevent her from continuing to work at NewJeans. Therefore, she made clear her intention to return as CEO and requested a true and concrete contract from HYBE.
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