New HYBE CEO Lee Jae-sang Rejects NewJeans’ Demands, Emphasizes “Sticking to Principles”
This decision signals that the current situation will not impact HYBE 2.0’s direction.
HYBE held its first extraordinary shareholders’ meeting on the morning of Sep 12th at the Korea Listed Companies Association building in Mapo-gu, Seoul. The meeting addressed three agenda items: the appointment of Lee Jae-sang as an inside director, the granting of stock options, and approval of previously granted stock options by the board of directors. All agenda items passed, and following a board meeting, Lee Jae-sang officially became the CEO.
After the meeting, CEO Lee told reporters, “It will take time, but we are responding calmly and according to principles. HYBE is a company that upholds principles and pursues transparent management, and this stance remains unchanged. Looking back, those who stuck to their principles have always been the ultimate winners.”
This suggests that HYBE will maintain its separation of production and management while running its multi-label system, despite the ongoing ADOR situation.
In essence, this is seen as a rejection of NewJeans‘ demands. The previous day, NewJeans appeared on a YouTube broadcast, requesting the return of Min Hee-jin as ADOR’s CEO by Sep 25th, saying, “What we want is the original ADOR where Min Hee-jin was both the CEO and the producer.“
Source: theqoo
