The visionary behind NewJeans, Min Hee Jin, may face a leadership challenge.
![HYBE Allegedly Proposes the Removal of Ador’s CEO Min Hee Jin Amidst Internal Conflicts 3 fi 924 1](https://i0.wp.com/theubj.com/uae/wp-content/uploads/2024/04/fi-924-1.jpg?resize=900%2C439)
Media giant HYBE is said to have formally requested the resignation of Ador CEO Min Hee Jin.
![HYBE Allegedly Proposes the Removal of Ador’s CEO Min Hee Jin Amidst Internal Conflicts 5 MinHeeJin](https://i0.wp.com/theubj.com/uae/wp-content/uploads/2024/04/MinHeeJin.jpg?resize=925%2C587)
Reports from MTN on April 22 indicate that HYBE has begun asserting its shareholder’s rights within Ador. HYBE purportedly called for a shareholders meeting, which is seen as part of an ongoing power struggle involving Ador’s existing board of directors.
Whether HYBE’s demand for a meeting will be honored is uncertain, as Ador’s board of directors holds the authority to approve the convening of such a meeting.
Presently, all internal directors, barring Min Hee Jin, have been teaming with the CEO since her days at SM Entertainment. If HYBE’s request is refused, they may resort to legal measures. It is mentioned that courts may grant HYBE the right to call a shareholders meeting and nominate its preferred director to the board of Ador.
The narrative suggests that HYBE has also proposed that Min Hee Jin should relinquish her role as CEO. It is anticipated that Min Hee Jin will spurn HYBE’s proposal and will counteractively challenge HYBE.
Further developments are to be watched closely.
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FAQs about HYBE’s Move Against Ador CEO Min Hee Jin
- What has HYBE reportedly requested of Ador CEO Min Hee Jin?
- HYBE has reportedly asked Min Hee Jin to step down from her position as CEO of Ador.
- Why is HYBE attempting to hold a shareholders meeting?
- HYBE aims to hold this meeting as part of a power struggle within the Ador’s current board of directors to assert their rights as shareholders.
- What might happen if HYBE’s request for a meeting is denied?
- If the board of directors of Ador declines HYBE’s request for a shareholders meeting, HYBE could pursue legal action to potentially gain the right to appoint a director of their choice to Ador’s board.
- Is it confirmed that Min Hee Jin will step down as CEO?
- No, it is expected that Min Hee Jin will reject HYBE’s request and may challenge HYBE defensively.
Conclusion
As the situation unfolds, all eyes are on HYBE and Min Hee Jin, with the future of Ador’s leadership hanging in the balance. This corporate tussle underscores the intricate dynamics at play within the K-Pop industry’s leading companies. The potential changes in Ador’s board could significantly impact the strategic direction of the company, particularly the management and promotion of groups like NewJeans. Audiences and industry watchers are holding their breath for the next suite of updates on this developing story.