Min Hee Jion has officially resigned from her CEO role at ADOR. However, a new director was appointed by the company.
On August 27, ADOR announced that Min Hee Jin would no longer serve as CEO of ADOR and that Kim Joo Young, a Human Resources expert, has now been appointed as the new CEO.
However, Min Hee Jin would continue at ADOR as an internal director and work with the production of NewJeans.
Furthermore, the agency shared that the reorganization would now separate the production and management, as opposed to the initial role of the CEO overseeing both aspects in the unique case of ADOR.
Read the agency's full statement below:
"ADOR would like to announce the following information.
On August 27, the company held a board of directors meeting and appointed Kim Joo Young, ADOR's internal director as CEO.
Kim Joo Young, the new CEO, is an HR expert with experience in various industries and will be responsible for stabilizing the company and restructuring the company's internal affairs. Former CEO Min Hee Jin will step down as CEO but will remain as an inside director of ADOR, and continue to be in charge of producing NewJeans.
At the same time, ADOR's internal organization will now separate production and management. This has been a usual principle applied in multi-labels, but ADOR became the exception with the CEO previously having overseen both production and management.
With this personnel and organizational restructuring, ADOR plans to give its best efforts to support NewJeans in their growth and success.
Thank you."
On the same day (August 27), a brief statement was obtained from ADOR in a press release.
"Today, ADOR conducted the board meeting and voting process with full compliance, according to the procedures set by the Commercial Act and the company's articles of incorporation. The meeting schedule was set among the dates that former CEO Min Hee Jin had hoped to postpone."
"Former CEO Min Hee Jin attended through a video conference, and after an in-depth discussion, the board made the best choice for the future of the company and NewJeans."
Furthermore, outlet TopDaily reported that HYBE has officially terminated Min Hee Jin's shareholder agreement. The termination was allegedly made in July.
Here's how netizens reacted to the situation:
- "Like I told anyone long ago, this is a lose-lose situation. No one's going to win. They are both digging their graves, it's just a matter of who will get buried first."
- "Adults fighting with literal kids getting caught in the crossfire. I hope NewJeans will be okay."
- "This was always going to be the outcome and I said this from the start. Does she still have some cards up her sleeve?"
- "Maybe, but it was extremely clear that she couldn't hold on to this position with HYBE pushing for her ejection."
- "I knew they weren't gonna just allow her to stay on after everything. It was only a matter of time before they found a loophole."
- "This goes to show you that the court of public opinion isn't always the best court to win in lol."
What are your thoughts on this? Let us know in the comments below.
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Written by Israel Monte
