Min Hee Jin has stepped down from her position as the CEO of ADOR, the agency behind the girl group NewJeans.
ADOR held a board meeting on August 27th and announced the appointment of Kim Joo Young, the company’s internal director, as the new CEO. Although Min Hee Jin is stepping down as CEO at ADOR, she will stay on as an internal director and continue to manage NewJeans.
Kim Joo Young, the newly appointed CEO, is an HR expert with diverse industry experience and will be responsible for stabilizing ADOR’s organization and managing internal affairs.
However, Min Hee Jin’s side is fighting back against the decision to take her out as CEO. Min Hee Jin’s legal team, Lawfirm Sejong, said on August 28th, “This decision to remove her is illegal, as it directly contradicts the shareholder agreement and the court’s injunction prohibiting the exercise of voting rights.”
The statement continued, “The shareholder agreement stipulates that HYBE must take necessary actions, such as exercising voting rights or ensuring that directors appointed by HYBE exercise voting rights at ADOR’s board meetings, to maintain Min Hee Jin’s positions as CEO and internal director of ADOR for five years.”
Furthermore, they pointed out that the court had previously issued an injunction preventing HYBE from exercising voting rights to remove Min Hee Jin as CEO and internal director at a special shareholders’ meeting, stating that there were no grounds for her dismissal or resignation.
The statement also noted, “HYBE is claiming the termination of the shareholder agreement, but there is no basis for this, and CEO Min Hee Jin has not acknowledged any termination of the shareholder agreement. Therefore, firing her was clearly against the shareholder agreement and disregards the court’s ruling.”
Regarding HYBE’s press release the previous day, which mentioned that Min Hee Jin would continue to manage NewJeans, the law firm stated, “This claim is based on materials distributed by ADOR’s board, and it is a blatant lie. CEO Min Hee Jin was removed against her will. She’s not voluntarily stepping down.”
They added, “Saying she left her CEO job on her own to focus on production is misleading. It’s illegal to fire her like this because it goes against the shareholder agreement and the court’s decision.”
>> Min Hee Jin Faces Backlash Over Alleged Harassment Cover-Up at ADOR
The post ADOR Appoints New CEO, Min Hee Jin Says Decision Was Made Without Consent appeared first on ZAPZEE – Premier Korean Entertainment Magazine.