The proposal was finalized through a resolution by ADOR‘s board of directors on the afternoon of Sep 25th, adhering to the deadline set by NewJeans during their “surprise position announcement” on YouTube on Sep 11th.
NewJeans’ agency ADOR announced the fact that the board meeting had been held that day, stating, “We decided to convene an extraordinary general meeting of shareholders to reappoint Min Hee-jin as an internal director.” Additionally, ADOR explained that they had proposed to Min Hee-jin to take charge of producing NewJeans for the next five years, and this offer remains “still valid”.
However, ADOR also said that they are currently unable to accept NewJeans’ “core demand” for Min Hee-jin’s return as CEO, which was made during their “surprise position announcement” on YouTube.
Below is the resolution made by ADOR’s board of directors on Sep 25th.
On Sep 25th, ADOR’s board of directors resolved to convene an extraordinary general meeting of shareholders to reappoint Min Hee-jin as an internal director.
Previously, on the morning of Sep 11th, ADOR had already proposed to Min Hee-jin to take charge of producing NewJeans for the next five years. The five-year period corresponds to the entire remaining contract period with NewJeans.
However, ADOR’s board of directors discussed and decided that the request for Min Hee-jin to return as CEO is currently not acceptable.
Since the basic guarantees regarding Min Hee-jin’s position, tenure and authority as the producer of NewJeans have been established, further negotiations on specific conditions are expected to take place.
The details discussed at today’s board meeting and responses to various inquiries were sent to NewJeans members via email.
Source: Daum
