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Reading: ADOR Shareholder Meeting: HYBE Gains Board Seats, Min Hee-jin Retains CEO Position
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CinDrama > News > K-pop > ADOR Shareholder Meeting: HYBE Gains Board Seats, Min Hee-jin Retains CEO Position
NewsK-pop

ADOR Shareholder Meeting: HYBE Gains Board Seats, Min Hee-jin Retains CEO Position

Lovely Rose
Last updated: July 25, 2024 7:54 pm
Lovely Rose - Writer
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ADOR Shareholder Meeting HYBE Gains Board Seats Min Hee jin Retains CEO Position
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Court Ruling Allows Min Hee-jin to Remain CEO, But HYBE Gains Control of Board

On May 31st, ADOR CEO Min Hee-jin addressed the press following an extraordinary general meeting of shareholders. The meeting addressed the ongoing dispute between ADOR and its parent company, HYBE.

Contents
Court Ruling Allows Min Hee-jin to Remain CEO, But HYBE Gains Control of BoardHYBE Appoints New Board Members, Min Hee-jin Retains CEO PositionMin Hee-jin Addresses Press, Expresses Relief

HYBE Appoints New Board Members, Min Hee-jin Retains CEO Position

The agenda for the shareholder meeting included proposals to appoint three HYBE executives as ADOR inside directors and dismiss two existing directors affiliated with Min Hee-jin. While the proposals to appoint HYBE’s Kim Joo-young (CHRO), Lee Jae-sang (CSO), and Lee Kyung-jun (CFO) passed, the proposal to dismiss Min Hee-jin failed due to a court-granted injunction.

This injunction prevented HYBE from exercising its voting rights on the matter. However, the successful appointment of HYBE executives now grants them a 3-1 majority on the ADOR board, effectively giving HYBE control.

Min Hee-jin Addresses Press, Expresses Relief

Following the meeting, Min Hee-jin met with reporters, stating, “I’m here to greet you for the second time. I’m glad to be able to greet you after winning the lawsuit. I decided to hold a press conference because I thought it would be good to explain our situation and my thoughts.”

Min Hee-jin also conveyed a sense of relief, commenting, “Personally, I feel relieved to have been cleared of the false charges.”

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