HYBE CEO Park Ji-won hands in resignation
HYBE CEO Park Ji-won handed in his resignation, reports said Wednesday.
Park recently expressed his desire to step down as CEO of the K-pop company after serving four years as the chief of HYBE since 2021, according to media reports.
He joined HYBE in May 2020 and began his term as CEO in 2021, succeeding current chairman and then-CEO Bang Si-hyuk.
Park is credited for leading the agency, then called Big Hit Entertainment, to go public on the Korea Exchange in October 2020 and buying U.S. Entertainment company Ithaca Holdings in the following year.
Park's resignation comes amid a cascade of conflicts between HYBE affiliates, mostly around Min Hee-jin, the CEO of girl group NewJeans' label ADOR, and the other HYBE subsidiaries Source Music and Belift Lab.
The kerfuffle began in late April when HYBE began an internal audit against Min and ADOR executives on suspicion that they were trying to get a third-party investor involved in the company.
The back-and-forth between HYBE, ADOR and the other labels involved multiple parties and "evidence," such as the personal KakaoTalk messages between Park and Min.
A HYBE official said that "nothing has been decided" and refused to comment further.
Source: celebconfirmed
Park recently expressed his desire to step down as CEO of the K-pop company after serving four years as the chief of HYBE since 2021, according to media reports.
He joined HYBE in May 2020 and began his term as CEO in 2021, succeeding current chairman and then-CEO Bang Si-hyuk.
Park is credited for leading the agency, then called Big Hit Entertainment, to go public on the Korea Exchange in October 2020 and buying U.S. Entertainment company Ithaca Holdings in the following year.
Park's resignation comes amid a cascade of conflicts between HYBE affiliates, mostly around Min Hee-jin, the CEO of girl group NewJeans' label ADOR, and the other HYBE subsidiaries Source Music and Belift Lab.
The kerfuffle began in late April when HYBE began an internal audit against Min and ADOR executives on suspicion that they were trying to get a third-party investor involved in the company.
The back-and-forth between HYBE, ADOR and the other labels involved multiple parties and "evidence," such as the personal KakaoTalk messages between Park and Min.
A HYBE official said that "nothing has been decided" and refused to comment further.
Source: celebconfirmed