On the 27th, a representative for Min Hee-jin revealed to MyDaily, “On the 24th, we were suddenly informed by the ADOR board that a meeting would be held regarding the change of the CEO. Former CEO Min attended the meeting via phone.”
The representative added, “Former CEO Min was unilaterally dismissed, regardless of her wishes. This is a serious breach of the shareholders’ agreement.”
They further stated, “The company is announcing that former CEO Min will continue producing for NewJeans, but this has not been agreed upon. This is another unilateral notice from the company. Currently, former CEO Min is carefully considering her options.”
Earlier that day, ADOR issued an official statement: “During today’s board meeting, we appointed Jo Young as the new CEO of ADOR. Jo is an HR expert with extensive experience in various industries and will focus on stabilizing and restructuring ADOR’s organization.”
ADOR clarified, “While Min Hee-jin has stepped down as CEO, she will remain on the board of directors and continue to handle NewJeans’ production work.”
They added, “ADOR will also separate its production and management functions. This aligns with the multi-label operation principle that has consistently been applied across other labels. However, ADOR has been an exception, with the CEO overseeing both production and management.”
Source: Nate
