On August 27, HYBE announced that Min Hee Jin would be stepping down as CEO of ADOR, citing a "mutual agreement" between the parties. Ju Young Kim, who previously served as HYBE's Chief Human Resources Officer, was appointed as the new CEO. However, just a few hours after HYBE's statement, Min Hee Jin publicly refuted this claim, stating that her removal as CEO was not mutually agreed upon.
Min Hee Jin clarified that her dismissal was, in fact, a "unilateral termination notice by the company." She explained that on Saturday, August 24, she received notice of a board meeting scheduled for August 27 to discuss the change in ADOR's leadership. Unable to attend in person, she joined the meeting via video conference, only to find that the board's decision to replace her as CEO was made against her wishes. She also disputed the company's announcement that she would continue to serve as a producer for NewJeans, asserting that this was not part of any agreement.
Additionally, it was revealed that due to her removal, Min Hee Jin lost the opportunity to earn 100 billion KRW (approximately 75 million USD) through a put option.
The news received various reactions from K-netizens.
"Now, talented people in the entertainment industry will definitely avoid working with that company."
"Wow, she's really a thug."
"I feel so relieved, lol. Did she ever submit the laptop?"
"It's sad that Min Hee Jin's working relationship with NewJeans might be ending."
"Good for her, unlike the sexual harassment victim, she has plenty of money to hire expensive lawyers."
"Why, though? She's really good at her job."
"This was all predicted back in May when everything first went down. The issue was always whether HYBE would take over the board and fire Min Hee Jin while pocketing the money."
"This is messed up."
"How is she good at her job if she can't even properly protect employees who were sexually harassed?"
"It seems right to separate the management and production sides."
"If she supported a sexual harasser, it's only natural she should step down as CEO."
"She just stepped down as CEO but kept her position as an internal director. The entire board is still full of Min Hee Jin’s people, so it's like she only gave up the title, not the power."
"This was the expected outcome from the very start."
"100 Billion KRW (75 million USD) is a lot of money to lose."
"Does the non-compete clause disappear now? HYBE talked about a 2.5-year break for NewJeans. Are they really going to support them?"
"What’s going to happen to NewJeans now?"
SEE ALSO: Min Hee Jin steps down as CEO of ADOR, will continue producing NewJeans
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