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.

Comments

Re: Ariana DeBose

[bakemonos]

Usually CEOs can be ousted without their approval. I'd be curious what was different about this shareholder agreement... I see that it said a rep and not a lawyer. I love mess!

Re: Ariana DeBose

[varioussaints]

I didn't see this article earlier, but according to allkpop:

According to a report from SPOTV News on August 27, HYBE notified Min Hee Jin of the termination of their shareholder agreement in July. As a result, Min's rights to exercise the put option, which was valued at approximately $75 million, have been nullified.

The shareholder agreement between HYBE and Min Hee Jin included terms that guaranteed Min's tenure and provided her with a put option (the right to sell shares). Under the agreement, HYBE was required to exercise its voting rights to maintain Min's position as CEO and internal director of ADOR until November 2026, unless the agreement was terminated. Min, in turn, was entitled to request that HYBE purchase 75% of her ADOR shares in one transaction at any time between three and ten years after ADOR's establishment.

However, with the termination of the agreement, Min has lost both the protection of her CEO status and the valuable put option.

Re: Ariana DeBose

[bakemonos]

Daaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaamn.

Re: Ariana DeBose

[mspopstar]

It's minimum wage time for ha!

[otraera]

who didnt see this coming.

[evett]

she girl bossed too close to the sun. wonder if she was blindsided or her shaman told her it was happening. I would say hope this doesn't hurt new jeans but they were hanging with kanye so meh I give less fucks.

[varioussaints]

wonder if she was blindsided or her shaman told her it was happening.

I choked. I wonder, is there a refund process if the shaman missed it?

Re: Ariana DeBose

[bakemonos]

Isn't she in the wrong here? I only follow this through posts on here, but I guess I need a tl;dr

Re: Ariana DeBose

[varioussaints]

Previously, the TL;DR boiled down to, both HYBE and MHJ suck and this is a petty, ego-driven battle between a bunch of awful men* (HYBE) and the awful woman** doing everything they couldn’t (Min Hee Jin/MHJ

Re: Ariana DeBose

[bakemonos]

Okay that's what I thought. I fuck heavy with NewJeans but don't like Le Sserafim's music but.... that's so wild to me. Fuck all of em. Yeah when I hear Cookie I was like.........this a bop! But then I found out how old the members were and shelved that shit quick.

Re: Ariana DeBose

[bakemonos]

Also tysm for typing this up for me! I appreciate you.

[pikapika217]

What did she THINK would happen?!