Ador CEO’s fate to be decided on May 17


Beleaguered Ador CEO Min Hee-jin's future as the leader of the Hybe sublabel will be determined on Friday, the day a hearing for the injunction against Hybe is set to take place, according to an industry source. This follows Min's filing for an injunction with the Seoul Central District Court on May 7, aiming to block Hybe from exercising its voting rights to dismiss her. The court's decision on Min's petition for an injunction, aligned with Ador's forthcoming extraordinary shareholders' meeting on May 31, will have a pivotal impact on her position. Given that Hybe owns 80 percent of Ador's shares, it can leverage its voting rights to potentially remove Min at the upcoming extraordinary shareholder's meeting. An entertainment law expert expressed skepticism about the court ruling in favor of Min, citing the rarity of the injunction sought and its conflict with the fundamental right of shareholders to vote. Meanwhile, Ador announced the approval of the agenda for the extraordinary shareholders' meeting requested by Hybe and mentioned the potential impact on K-pop group NewJeans' promotional activities if Min is ousted, as she plays a key role as the group's main producer. In summary, the fate of Ador CEO Min Hee-jin as the leader of the Hybe sublabel will be heavily influenced by the court's decision on her petition for an injunction, which comes ahead of Ador's significant shareholders' meeting. Additionally, the potential impact of her dismissal on K-pop group NewJeans' promotional activities is a matter of concern should Min be removed from her position.


Previous Post Next Post