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‘Not respecting ADOR directors board’s decision': HYBE comments on Min Hee Jin’s injunction request for reinstatement as CEO
HYBE has responded to Min Hee Jin’s injunction request with the court for her reappointment as ADOR’s CEO. Read on to know what the agency has said.
Following Min Hee Jin’s injunction file for her reinstatement as ADOR CEO, HYBE has issued an official statement. The agency said that she is not respecting the decision made by ADOR’s board of directors. At the same time, the company stated that her removal from the CEO position was independently made by the ADOR directors’ board and had nothing to do with the shareholder agreement.
On September 13, in response to Min Hee Jin’s injunction request, HYBE reportedly stated, “The decision to dismiss her as CEO was made independently by ADOR’s board of directors.” They further noted that it was part of a business management decision and had nothing to do with HYBE or the shareholder agreement with Min Hee Jin.
“We regret that Min Hee Jin, who has long emphasized the importance of ADOR’s independent management as a separate entity, is not respecting ADOR’s board of directors’ decision”, the agency added.
On this day, the company also stated that since the shareholder agreement between HYBE and the former ADOR CEO had already been terminated with her dismissal, its legal effect is now void. “we are awaiting the court’s decision”, the company added saying that they have filed a lawsuit to confirm the termination of the shareholder agreement.
Earlier today, it was reported that Min Hee Jin had filed an injunction request with the Seoul Central District Court to reinstate her as the CEO and in-house director of ADOR. Her side also revealed that, depending on the court's ruling, they plan on summoning an extraordinary shareholders’ meeting at ADOR.
For the unversed, previously, on August 27, HYBE announced that Min Hee Jin has been dismissed as ADOR’s CEO, and internal director Kim Joo Young has taken over the leadership role. Following the announcement, Min Hee Jin’s side claimed that the decision was made unilaterally and was a grave violation of the shareholder agreement. However, HYBE denied their claims stating that the plans for the board of directors’ meeting were scheduled according to her.
Meanwhile, amid the chaos, ADOR girl group NewJeans held an unexpected live on YouTube, accusing HYBE of unfair treatment and demanding Min Hee Jin’s reinstatement by September 25.
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