HYBE has begun an audit of ADOR, a subsidiary label that houses the group NewJeans.
News broke on the 22nd that HYBE had convened a shareholders’ meeting for its subsidiary ADOR and called for the resignation of CEO Min Hee Jin, as part of exercising shareholder rights.
Initial reports suggest that this move is aimed at holding the ADOR management accountable for attempts to take over management rights and to appoint additional HYBE directors.
ADOR is a label under HYBE, established by CEO Min Hee Jin in 2021. HYBE holds 80% of the shares, while the remaining 20% is owned by CEO Min and other ADOR executives.
In response to this, HYBE briefly confirmed to DongA.com that “the audit rights have been activated.”
CEO Min Hee Jin is a well-known producer who made her name at SM Entertainment, where she handled concepts and branding for groups like Girls’ Generation, SHINee, and EXO.
After joining HYBE, she was in charge of branding and designing the new Yongsan headquarters and in 2022, she launched the girl group NewJeans, creating a flagship girl group for HYBE.
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