Following executives' exit, ADOR CEO announces second press conference
ADOR's Chief Executive Officer, Min Hee-jin, has scheduled a second press conference for Friday, May 31. This follows her previous public appearance on April 25. The conference is set to begin at 2:30pm KST (11:00am IST) and is likely to clarify her position after an extraordinary shareholder's meeting was held at HYBE's subsidiary ADOR premises earlier in the day.
2 board members were dismissed; 3 new members added
Earlier today, an extraordinary shareholder's meeting at ADOR resulted in significant board changes. Two past board members were dismissed and three new members, endorsed by HYBE Labels, were appointed. The dismissed members, referred to as Vice President Shin and Director Kim, are believed to have sided with Min. The press conference is expected to provide clarity on Min's position following these changes. Shin & Kim Law Firm will represent the CEO during the conference.
Min's exit was stopped due to court's intervention
The three new additions to the ADOR board are Kim Joo-young, HYBE's chief human resources officer, Lee Jae-sang, HYBE's chief security officer, and Lee Kyung-joon, HYBE's chief financial officer. Notably, the Bang Si-hyuk-led company would have replaced Min at the meeting too, if not for an injunction against HYBE granted by a Seoul court on Thursday. HYBE has leveled accusations of management takeover against Min and top ADOR executives, which the latter have refuted.
