HYBE has finalized the list of new board executive candidates to send to SM Entertainment.
According to officials in the industry on February 16th, last night (February 17th), HYBE sent e-mails to the shareholders recommending three candidates for the internal director position. The candidates are HYBE America CEO Lee Jae Sang, HYBE CLO (Chief Legal Officer) Jung Jin Soo, and Head of HYBE Management Planning Lee Jin Hwa.
‘Outside director’ candidates are Gaon law firm’s chief lawyer Kang Nam Gyu, Hong Soon Man, a professor of administration at Yonsei University, and Im Dae Woong, CEO of UNEP Financial Initiatives in Korea.
In addition, VIG Partners CEO Park Byung Moo (former non-executive director of NCSoft), and accountant Choi Gyu Dam (former Head of NCSoft’s Financial Strategy Office) were named as candidates for non-executive director.
HYBE Chairman Bang Si Hyuk and ADOR CEO Min Hee Jin, who created the girl group NewJeans were not included in the list.
Meanwhile, HYBE acquired 14.8% of SM shares from SM’s former executive producer Lee Soo Man. As HYBE proposes candidates for new SM management, it is inevitable that there will be a vote with SM’s current management at the shareholders’ meeting next month.
It is unknown whether SM’s current co-CEOs Lee Sung Soo and Tak Young Joon, whose term end at the end of March, will continue their second term.
Source: insight
