Previously, it was revealed that HYBE is seeking candidates for the new ADOR CEO position as they plan to oust CEO Min Hee Jin at the general shareholders meeting on May 31.
Currently, the entertainment agency is going all out to counter Min Hee Jin’s claim and remove her from the CEO position. HYBE’s top management, including CSO (Strategy Manager) Lee Jae Sang, are being seen as potential contenders for the new ADOR board of directors.
In addition to Lee Jae Sang, HYBE executives Kim Joo Young (CHRO), and Lee Kyung Jun (CFO) are expected to be appointed to ADOR’s board of directors at the company’s shareholders’ meeting on May 31st.
The company’s shareholders are gathering on the said date to vote on two big changes: removing three current directors, including CEO Min Hee Jin, and welcoming three new members to the board.
Interestingly, HYBE has been quietly scouting out the best candidates to join ADOR’s leadership team.
HYBE’s CSO, Lee Jae Sang, is the top contender to become Adore’s new CEO. Interestingly, Lee was also HYBE’s pick to lead SM Entertainment if they had acquired the company. Back then, he was the CEO of HYBE America and was seen as the likely choice to helm SM if the deal went through.
CHRO Kim Joo Young is a human resources expert with an impressive background. She was the first woman to lead the HR team at Yuhan-Kimberly and was recruited by HYBE from Crefton, where she headed the HR division.
CFO Lee Kyung Jun is a seasoned finance professional with experience at top firms like Samil PwC, PwC Sydney, and Kim & Chang. He played a key role in HYBE’s successful KOSPI listing and also serves as an internal director at Source Music, an HYBE subsidiary.
Word on the street is that three top executives were named to join Adore’s board ever since the conflict with CEO Min Hee Jin started.
If the court sides with Min Hee Jin and orders to block HYBE’s voting rights, only two board members will be replaced.
This would give HYBE majority control of the board, allowing them to potentially vote to remove Min Hee Jin as CEO. However, Min Hee Jin could then sue HYBE for not honoring their shareholder agreement.