Min Hee Jin out as CEO of ADOR

[varioussaints]

ADOR Announces New CEO + Min Hee Jin States Decision Was Made Unilaterallyhttps://t.co/dIwZz7pBPY pic.twitter.com/R5BvJUSDwJ
- Soompi (@soompi) August 27, 2024

Min Hee Jin is out as CEO of ADOR. She will, however, stay on as an internal director and continue to manage NewJeans.

ADOR issued the following statement:

We at ADOR would like to inform you the following.

On August 27, we held a board meeting and appointed Kim Joo Young, ADOR’s internal director, as the new CEO.

The newly appointed CEO Kim Joo Young, is an HR expert with experience in various industries and will be responsible for stabilizing and reorganizing ADOR’s internal structure.

Former CEO Min Hee Jin has stepped down from the CEO position but will continue to serve as an internal director of ADOR. She will also continue her role in producing NewJeans.

Additionally, ADOR’s internal organization will now separate production and management. This is in line with the multi-label operation principle that has consistently been applied to all other labels, although ADOR had previously been an exception where the CEO oversaw both production and management.

With this personnel and organizational restructuring, ADOR plans to fully support the growth and greater success of NewJeans.

Thank you.

While the statement refers to Min "stepping down" from her position, a representative for Min Hee Jin stated that, "The decision to dismiss CEO Min Hee Jin was made unilateral without her consent, which is a clear violation of the shareholder agreement." Additionally, the decision that she would stay on to produce NewJeans was similarly made without her knowledge or consent.

Min was notified on Saturday, August 24 that there would be a board meeting on Tuesday, August 27 to discuss a change in CEOs at ADOR. She attended the meeting by phone.

SOURCE