As HYBE intensifies efforts to dismiss Min Hee Jin, the current CEO of ADOR, several of its top executives, including Chief Strategy Officer (CSO) Lee Jae Sang, are strong candidates to join the new ADOR board of directors.

According to the investment banking sector on May 22, Lee Jae Sang (CSO), Kim Joo Young (Chief Human Resources Officer, CHRO), and Lee Kyung Jun (Chief Financial Officer, CFO) are likely nominees for the new ADOR board at the upcoming shareholders' meeting on the 31st.

The main agenda for the ADOR extraordinary shareholders' meeting includes the dismissal of the current three board members, including Min Hee Jin, and the appointment of three new members. HYBE has been carefully reviewing potential candidates for some time.

Lee Jae Sang is the leading candidate for the CEO position among the HYBE executives considered for the new ADOR board. Previously, HYBE proposed Lee as a director candidate during its attempt to acquire SM Entertainment. At that time, Lee, then CEO of HYBE America, was expected to take over as SM's new CEO if the acquisition succeeded. He emphasized that revising SM's existing strategies based on HYBE's successful business model was crucial for future success.

Kim Joo Young, the CHRO, is a personnel expert who was the first female head of HR at Yuhan-Kimberly and later served as the head of HR at Krafton before joining HYBE. Lee Kyung Jun, the CFO, has extensive accounting experience from Samil PwC, PwC Sydney, and Kim & Chang, and is recognized as a key figure behind HYBE's successful listing on the KOSPI. He also serves as an internal director at HYBE’s subsidiary, Source Music.

These three HYBE executives have been rumored as candidates for the ADOR board since the onset of this situation.

Other candidates for the new ADOR board include HYBE's Chief Legal Officer (CLO), Jung Jin-soo, and Head of Business Planning, Lee Jin-hwa. They were also proposed as new board members during HYBE's attempt to acquire SM.

If the court grants Min Hee Jin’s injunction to prohibit HYBE from exercising its voting rights, only two of the current three ADOR board members will be dismissed and replaced. This would still allow HYBE to gain majority control and potentially vote to dismiss Min Hee Jin as CEO. However, this could lead to Min Hee Jin filing a lawsuit against HYBE for breaching the shareholder agreement.

HYBE plans to restructure ADOR into a dual leadership system with separate roles for production and management, similar to other HYBE labels. Currently, Min Hee Jin holds both roles at ADOR.

A senior HYBE official commented, “We have no official plans to announce regarding the appointment of the new ADOR board at the shareholders' meeting on the 31st,” but added, “Efficiency is higher when experts focus on their respective fields of production and management. Problems can arise when one person handles both roles.” Thus, HYBE may appoint a new head of production after replacing the ADOR board.

Changes in ADOR’s structure are expected depending on the court’s decision. Many team leaders at ADOR have submitted petitions supporting Min Hee Jin, as have the parents of NewJeans members.

If Min Hee Jin and the current ADOR board are replaced by HYBE appointees, many ADOR employees might resign. However, HYBE stated, “Only three or four individuals responsible for the management dispute will leave. The rest have no reason to resign.”

Regardless of HYBE's position, if a significant number of ADOR employees resign, NewJeans might temporarily be managed by other HYBE labels like Pledis or Belift Lab. Last month, HYBE CEO Park Ji Won assured the mothers of three NewJeans members that despite Min Hee-Jin not sharing the plans for the Tokyo Dome concerts, HYBE has many professionals who can handle it well.

Korean netizens responded and commented:

"The staff members who worked with Min Hee Jin will resign, there's no way Bang Si Hyuk would support NewJeans more than ILLIT. At this rate, NewJeans are done for if they can't escape HYBE."

"NewJeans-related work might be allocated to Pledis or Belift Lab under HYBE... this is the worst."

"Bang Si Hyuk is putting someone who would listen to him well in that position. He's so low."

"There're claims that NewJeans copied Jeans group from Mexico..."

"Min Hee Jin basically created a new FIFTY FIFTY incident by getting the girls involved."

"They're trying to bury NewJeans too."

"He's the guy who was in charge of HYBE Americas?? There're rumors about that place... this is the worst..."

"This is unfortunate but it's the end for NewJeans too."

SEE ALSO: NewJeans' hidden 6th member, "Ban Hee Soo," mysteriously disappears overnight