![ADOR Counters HYBE’s Accusations, Denies Financially Motivated Allegations Against CEO Min Hee-jin 2 min hee jin newjeans thumbnail 022124](https://i0.wp.com/theubj.com/uae/wp-content/uploads/2024/05/min-hee-jin-newjeans-thumbnail-022124.jpg?w=1170)
Earlier this month, ADOR released an official statement via its legal team at Sejong to counter claims from HYBE about the intentions of their CEO Min Hee-jin.
The company explained that their silence until now was to prioritize artistic integrity over entering into a public dispute, but decided to break that silence due to the spread of misinformation. They stated, “The purpose of our statement is to correct inaccuracies and address any confusion or speculation that may have arisen in the public discourse around these issues.”
ADOR strenuously objected to HYBE’s accusations that CEO Min Hee-jin was usurping management for financial gain, outlining that her 2 billion won incentive was justified compensation for the company’s considerable financial success, and claimed that HYBE’s narrative was misleadingly conflating issues related to her payment.
Furthermore, ADOR raised questions about HYBE’s transparency in disclosing internal audit details to the public and criticized the disruption this caused to business operations and their artists’ schedules. The company claims that measures HYBE says were taken to prevent workflow disruption were false.
The agency also clarified the facts around the debut of their artists NewJeans and LE SSERAFIM, and argued that the competition ban outlined in CEO Min Hee-jin’s contract was unreasonably broad and restrictive.
ADOR’s response further addressed the shareholder contract dispute, indicating that the contentious “30 times the put options” were not as central to the conflict as HYBE suggested but concerned fairness in compensating the prospective value of a new boy group.
ADOR also dismissed HYBE’s assertion that CEO Min Hee-jin turned down an offer to relieve the competition ban, while detailing the ongoing disagreements that have overshadowed their relationship.
Lastly, ADOR refuted accusations that ADOR’s management decisions were influenced by superstition, instead crediting their successes to strategic and rational decision-making, criticizing HYBE for leveling personal attacks rather than addressing the real issues.
The company concluded by reaffirming their commitment to supporting their artist NewJeans, requesting a cessation of what they describe as a smear campaign by HYBE, and urging a more reasonable and supportive approach.
FAQ Section
Why did ADOR release an official statement?
ADOR released an official statement to address and correct misinformation and speculation following HYBE’s public claims against CEO Min Hee-jin.
What is ADOR’s response to HYBE’s accusation of management usurpation for financial gain?
ADOR refutes HYBE’s claim, explaining the incentive as justified compensation and accusing HYBE of distorting the facts to falsely portray CEO Min Hee-jin as financially motivated.
Did HYBE interfere with ADOR’s business operations?
According to ADOR, HYBE’s actions, particularly regarding the audit process, were disruptive to business operations and negatively impacted ADOR’s artists.
What is the controversy surrounding the “30 times the put options” and competition ban?
ADOR claims that the put options were part of a proposal to amend what they view as an unfair shareholder agreement and that the competition ban imposed on CEO Min Hee-jin is too restrictive.
How does ADOR view the personal attacks against their CEO?
ADOR denounces the personal attacks as desperate and unrelated to management issues, validating their success as a result of diligent and rational company decision-making.
Conclusion Section
ADOR’s comprehensive response to HYBE’s allegations paints a picture of a company fighting to maintain its integrity and the well-being of its artists amid a complex legal and corporate dispute. ADOR’s statement strongly refutes the portrayal of their CEO as financially motivated, insists on the legitimacy of her compensation, and emphasizes their commitment to transparent and effective business practices. ADOR appeals for an end to what they see as a baseless smear campaign and urges a focus on creative support and rational conflict resolution to preserve the interests of all parties involved, especially their artists.