On September 25, Min Hee-jin‘s representatives stated, “This morning, the ADOR board resolved to convene an extraordinary shareholders’ meeting to discuss the reappointment of Min Hee-jin as an inside director.” They added, “However, the appointment of inside directors is determined by the major shareholder, HYBE, so we cannot know at this point whether Min Hee-jin will be reappointed.”
They continued, “The ADOR board has claimed to offer Min Hee-jin the role of producing NewJeans for the next five years, but while they mentioned extending the contract period, there has been no genuine proposal to remove numerous toxic clauses, including unilateral termination rights that were in the draft. The expression of a compromise proposal is merely wordplay.”
Furthermore, they pointed out, “Min Hee-jin is wary that if only the term is extended under a flawed contract, it will not guarantee the normal artist activities of NewJeans. Therefore, she has clearly stated her intention to return as CEO and has requested specific contractual terms with genuine sincerity from HYBE. We feel great anger at the behavior of proceeding with media play before discussions have even taken place, with no agreed-upon content regarding parties, status, duration, or authority.”
In conclusion, they stated, “It has become clear that HYBE has engaged in media activities to undermine the achievements of its affiliated artists. We question what they are trying to hide by urgently making a statement today and whether they are attempting to drive a wedge between Min Hee-jin and NewJeans. The rights of the CEO, in addition to the contents revealed today, also include the rights to defend against various irregularities at HYBE, and in a situation where there is no reason for her dismissal from the CEO position, these demands must be made. We strongly demand Min Hee-jin’s return to the position of CEO for the sake of the normal achievements of the artists.”
Source: Daum
