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Bang Si Hyuk resigns as CEO of HYBE Corporation

Fans are shocked to know that Bang Si Hyuk has resigned as CEO of HYBE Corporation. But calm down, he is still in the company!

Recently, HYBE Labels made a statement regarding the huge changes in leadership, claiming that it happened “due to a strong will to take the lead in changing the overall system of leadership so as to realize mid to long term business plans and to become a globalized company.”

As a result, ”Hitman” Bang will step down as CEO of the company to focus on his job as Chairman of the Board of Management, which will allow him to have a greater say in critical project decisions. Simultaneously, he will continue to expand his expertise as a music producer.

With 37.74 percent of HYBE Corporation, Bang Si Hyuk remains the biggest shareholder.

Park Ji Won, who has been the HQ CEO (headquarters executive director) since May of last year and has been in charge of HYBE’s restructuring, will succeed Mr. Bang. Park Ji Won was the previous CEO of Nexon Korea, a gaming publisher.

Now, HYBE Corporation is actively implementing a leadership reshuffle to speed up its global business. Especially, CEO Yoon Seok Joon and Scooter Braun will lead HYBE America, which will be based in the United States. In order to transplant K-Pop business models into the US market, the company will take the lead in producing, training, and marketing. In collaboration with UMG, they will organize a global audition project. 

Meanwhile, HYBE Japan has also established itself as a stand-alone label. Despite the fact that it will remain a subsidiary of HYBE Labels, it will have its own identity. Headed by CEO Han Hyuk Rok, he will create a foundation for HYBE Label artists to engage and enter the Japanese market. Through the Japanese subsidiary, a rookie boy group will be formed soon.

Source: FB, KB

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