Min Hee-jin, CEO of ADOR, the label of girl group NewJeans and an affiliate of K-pop juggernaut HYBE, has successfully retained her post. However, on Friday during an extraordinary shareholders’ meeting, two ADOR executives were fired. Notably, the shareholders’ meeting took place just one day after a Seoul court approved Min Hee-jin’s request for an injunction, which stopped HYBE from using its voting rights to sack her. Given the course of these developments, Min Hee-jin announced her second press conference.
Min Hee-Jin attended a news conference on May 31 at 2:30 PM KST. As reported by All K-Pop, she smiled as she stepped in front of the media and said, “My heart feels light because I am here after winning my case.”
Min Hee-Jin went on to clarify that while there are several justifications for this news conference, she wants to share her opinions on the current state of affairs. She expressed her gratitude to her supporters. Min Hee-Jin said, “Recent events were some of the hardest days of my life, events I never wish to go through again.”
The CEO burst into tears as she thanked everyone who voiced concern about her financial situation despite not knowing her.
All K-Pop also noted that her roles as ADOR CEO and president of a subsidiary firm under HYBE Labels sometimes presented conflicting interests.
This led to charges of embezzlement against ADOR, which made her ask herself, “How can it be embezzlement? I am here to fulfil my duties as CEO of ADOR.”
Min Hee-Jin allegedly said that she now has greater freedom to make decisions because the charges against her were dropped. She now wants to see her idea for NewJeans come to fruition.
In reference to the two ex-ADOR board members who were ousted at the shareholder meeting, Min Hee-jin expressed her belief that the board members will stay employed by ADOR.
She was reported by the news site adding that they will stay on staff at ADOR since they are among the organization’s founding members and must remain there.
In response to more inquiries from the media, Min Hee-jin reportedly stated, “I would like to suggest a reconciliation to HYBE.”
She did, however, state that she was not the one who initiated the conflict, and she is using this occasion to emphasise her desire to continue as CEO of ADOR.
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