According to the investment banking (IB) industry on the 22nd, Lee Jae-sang, CSO of HYBE, Kim Joo-young, CHRO (Chief Human Resources Officer) of HYBE, and Lee Kyung-jun, CFO (Chief Financial Officer) of HYBE, are being strongly considered as candidates for the new board of directors at the upcoming Ador extraordinary shareholders' meeting on the 31st.
The two main agenda items for this extraordinary shareholders' meeting are the dismissal of the current three board members, including CEO Min Hee-jin, and the appointment of three new board members. As such, HYBE has reportedly been reviewing candidates for Ador's board positions for some time.
Among the HYBE C-level executives mentioned as candidates for the new Ador board, Lee Jae-sang, CSO, is considered the most likely candidate for the new CEO of Ador. Lee Jae-sang was previously proposed by HYBE as a board candidate for SM Entertainment during HYBE's acquisition battle for SM. At that time, Lee Jae-sang, who was then the head of HYBE America, was expected to become the new CEO of SM if HYBE succeeded in acquiring the company. Lee Jae-sang had suggested that reviewing SM's existing strategy comprehensively and implementing a strategy based on HYBE's business model would be crucial for success, highlighting HYBE's successful management of major projects under the 'SM 3.0' initiative.
Kim Joo-young, CHRO, is an HR expert who was the first woman to lead the HR team at Yuhan-Kimberly and was recruited by HYBE while serving as the head of HR at Krafton. Lee Kyung-jun, CFO, has handled accounting at Samil PwC, PwC Sydney, and Kim & Chang, and is credited with playing a significant role in HYBE's KOSPI listing. He also serves as an internal director at HYBE's label, Source Music.
These three HYBE C-level executives have been rumored to be potential candidates for the Ador board since the beginning of this situation.
In addition to Lee Jae-sang, other candidates for the new Ador board include Jung Jin-soo, CLO (Chief Legal Officer) of HYBE, and Lee Jin-hwa, head of HYBE's corporate planning office. All three were also proposed as new board candidates for SM during HYBE's acquisition attempt.
HYBE is considering changing Ador's management structure to a two-person system, with separate roles for production and management. Currently, all other HYBE labels except Ador operate under a two-person system, with separate individuals responsible for production and management. At Ador, CEO Min Hee-jin currently handles both roles.
A senior HYBE official stated, "There are no official plans to announce the board appointments for the Ador extraordinary shareholders' meeting on the 31st at this time," but added, "Efficiency is higher when experts focus on their respective fields of expertise. Problems can arise when one person handles both roles." Therefore, HYBE may scout a new individual for the production role after replacing the Ador board.
Reporter: Jun Hyung-hwa
THE COMMENTS:
- No way.......
- HR at a gaming company... haha
- Almost no experience in entertainment
- Get rid of that multi-label nonsense
- This is frustrating
- Look at the level, changing from top entertainment experts to someone clueless in entertainment, haha
- HYBE is appointing someone they would’ve placed in SM, enough said, hahaha...
- HYBE America? Haha, might as well sink Ador
- Is that even an entertainment company? Min Hee-jin is a recognized talent in the industry, Ador's quality will plummet. These people extorted tree planting money from Lee Soo-man, haha
- If she had gone to SM, it would've really been over
- Why even do multi-labels then? HYBE and their lackeys
- Oh seriously, stop it
- Really a bunch of scumbags, they can’t match even 1% of Min Hee-jin’s aesthetic sense
- This article is so ridiculous
- HYBE, go bankrupt, that’s the solution for you
- Just go ahead
- Just leave it alone, it’ll fail on its own
- Look how they immediately want to put a man in charge, haha
- Unlike someone who directed with love from start to finish, Would someone parachuted in suddenly be able to properly support and direct?
- Please fail, for real
- Lee Jae-sang was HYBE's CSO until 2021, overseeing the acquisition of 'Ithaca Holdings', home to Justin Bieber and Ariana Grande, and participating in long-term business strategy planning. >>Isn't he the guy who lost 1 trillion won from poor performance? Haha
- ☞21 How does someone who lost 1 trillion keep their job as an executive? Are shareholders doing nothing?
- Many of Ador’s team leaders submitted petitions supporting CEO Min Hee-jin in the recent provisional injunction. Therefore, if the board, including CEO Min, is replaced by HYBE personnel, many of them might leave Ador. HYBE stated, “Only a few responsible for the management rights dispute will leave,” adding, “What fault do the others have?”
- However, if many Ador employees resign, NewJeans’ operations might temporarily be handled by other HYBE labels like Pledis or Belift Lab. HYBE CEO Park Ji-won reportedly told three NewJeans’ members' mothers during a meeting last month, “CEO Min did not share the Tokyo Dome materials in June, but HYBE has many professionals, so we can handle it well.”
- I really hate this. HYBE, just go bankrupt
- I don't understand why people who don’t know entertainment are in charge
- Ridiculous
- It was a losing game from the start, but Ador’s value is truly wasted..
- I think HYBE will self-destruct if left alone
- HYBE’s downfall seems inevitable, but they’ll cause all sorts of problems in the meantime... it might be best to just detach and find peace of mind
- IT and game industry people with no clue about entertainment
- Failure is the answer here. The management is filled with people who know nothing about the idol industry and they don’t see the artists as people, just as money-making game characters. Disgusting. As long as the management is like this, there’s no future
- That’s why I bought NewJeans’ Korea-Japan album set this time. If CEO Min gets dismissed, we’ll never see this quality again, haha. I really hope the court rules in favor of CEO Min so she can continue working with NewJeans and release a full album.
- Idiots
- There wasn’t even a management issue at Ador, so why say management and production should be separate? Haha
- They cut an experienced woman and put in an inexperienced man, typical HYBE
- This is worrisome... Min Hee-jin has 20 years in the industry, while the newcomer has no experience...
- Please let HYBE go bankrupt
- They dismiss someone who turned a 16 billion investment into much more because they don’t like her, yet put someone who lost 1 trillion with Ithaca Holdings into another label’s head position. What a joke
- NewJeans having to work under such management is insane. NewJeans' value is immense. If they end up like IVE or LE SSERAFIM, it’ll be a disaster. Comeback is tomorrow, but they’re not even promoting, just pushing them off a cliff.
- So pathetic
- This will be the worst for NewJeans...
- Hope the plan fails like with SM and Ador stays as is
- HYBE's collapse is imminent
- Since a gaming company took over, the gambling aspect will only worsen
- If they’re going to appoint whoever they want, why promote a multi-label system? Just absorb everything into BigHit
- It's like a landlord shoving his son into a well-running restaurant because he's jealous.
- Still, how can they only use IT people with no entertainment experience? HYBE’s weirdness is clear from their personnel choices.
- Makes me sick, crazy people
- They’re setting up for failure
- Disgusting, let NewJeans go
- HYBE America CEO...? They’re blatantly setting Ador up to fail
- Hoping for NewJeans to escape
- If NewJeans ends up under Belift Lab, it’ll be a disaster...
- They’re appointing someone who knows nothing about entertainment and lost money. Reminds me of someone who messes up everything with their parachute landings and arrogant decisions.
- Damn it
- Oh my
- Again with the gaming people..
- This is driving me crazy
- Oh.. They’re really doing this to fail...
- SM almost got ruined by HYBE
- Let Ador go if this is the plan, haha. Anyone can see it’s doomed. If HYBE takes NewJeans, it’s even worse.
- No...ㅠㅠㅠㅠㅠ
- What nonsense is this? How can this be allowed?
- This is ridiculous
- And again, they fill the spots with men...
- NewJeans is such a waste
- Curious about what will happen to NewJeans after this activity
- They’re really crazy, how pitiful for NewJeans...
- They talk about feminism and then replace a woman with a man, haha
- It’s karma
- Looks like a room salon buddy
- Seems like they're planning to ruin NewJeans. Creating a copy and being so brazen about it
- It's an all-male company
- HYBE’s personnel decisions are based on connections and politics, not skills. No way this company lasts long. Please let NewJeans go
- What will happen to NewJeans?
- Lee Soo-man should buy Ador
- Hope the court screws them over ^^
- What will HYBE do when BTS’s contract ends?
- What about NewJeans?
- They must fail, putting someone who lost 1 trillion in charge
- Again with the gaming industry, haha, they have no sense
- Go bankrupt
- Comeback is tomorrow, but what is this? This could be the beginning of HYBE’s downfall
- I really hate this
- Pledis, Koz (Zico’s label), and other labels were acquired by HYBE, but HYBE parachuted Bang Si-hyuk's people into executive positions. Han Sung-soo and Zico are just in-house producers. The multi-label concept is meaningless when Bang Si-hyuk controls everything.
- What will happen to the NewJeans kids?ㅠㅠㅠ
- This is terrible…
- Feels like the current government, no experts in leadership
- Haha, thought they’d at least hire someone from the entertainment industry, but they picked the HYBE America CEO who messed up~ haha
- They’re taking everything after pouring so much into NewJeans
- Oh no
- What about the NewJeans kids..
- Save NewJeans ㅜㅜㅜㅜㅜㅜ
- Who’s going to make NewJeans’ albums now?
- HYBE is bound to fail soon, surprising they’ve done well so far with such poor judgment
- Clueless old men causing chaos.. damn
- Bringing in people who know nothing about the field, haha
- What will happen to NewJeans?ㅠㅠㅠㅠ
- Why don’t they hire entertainment industry professionals for an entertainment company..?
- Let go of NewJeans
- Feels like the current government stuffing positions with incompetent prosecutors, haha
- HYBE America...
- Fine, take Ador and everything. Just let NewJeans go. You guys have no idea and will just make everything look tacky and outdated, tsk tsk
- Don’t ruin NewJeans ㅠㅠ
- They’re really trying to ruin NewJeans
- Get lost, dude
- Maybe it’d be better if they just stored them away
- Seems like Bang Si-hyuk isn't thinking about Ador’s future but just trying to clean up his son's messed-up career by making him Ador’s CEO
- They plan to bury Ador, appointing someone who lost 1 trillion. Let NewJeans go if this is the plan
- They always hated and opposed NewJeans, so of course, it’s ending this way. I hope HYBE goes bankrupt
- Without BTS, it’s just a hole-in-the-wall business
- If they're appointing a CFO and a head of HR, it looks like they're getting ready to wind things down... ㅜ
- I really hate this, I wish they’d just sue and get out
- NewJeans should leave HYBE; the quality is just too low
- HYBE might not fail, but they’ll ruin the industry. They’re just sucking out the good stuff, and that’s why it’s even more infuriating. They stifle any new attempts.
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