There were reports earlier today that HYBE’s current CEO Park Jiwon is stepping down after closing an investment deal for HYBE affiliates.
Shortly after the rumors spread, the entertainment agency announced that nothing had been decided yet about CEO Park’s resignation.
5 hours later, a candidate for the new HYBE position was announced, Lee Jae Sang, serving as Chief Strategy Officer at HYBE. He was previously the candidate for the ADOR CEO position, however, Min Hee Jin was granted the injunction and got to retain her job.
On July 24, HYBE officially announced Lee Jae Sang as the candidate for the new CEO, replacing Park Ji Won.
HYBE intends to officially name the nominee as CEO following a shareholders’ meeting and board resolution. The company has already selected him as the ideal leader to lead its upcoming ‘HYBE 2.0’ corporate strategy.
Lee Jae Sang, the candidate for CEO, is a Yonsei University alumnus and has held various leadership positions at esteemed companies, including Monitor Group, Hyundai Motor Company, and Google, before joining Big Hit Entertainment (now HYBE) in 2018.
Since then, he has served as CIGO, CSO, COO of HYBE America, and CEO of HYBE America.
In an email sent to HYBE, Park Jiwon resigned citing that the company’s global business expansion and new growth strategy needed new leadership. He vowed to stay connected to the agency and offer his help with expertise in whatever areas needed.
CEO Park joined HYBE in May 2020, following his tenure as CEO of Nexon Korea and Global COO of Nexon Japan. He took over the CEO role in 2021, replacing Chairman Bang Si Hyuk, and has since been responsible for the company’s management strategy and overseeing day-to-day operations.