K-pop agency ADOR, home to popular girl group NewJeans, is set to hold a shareholder meeting later this month to vote on whether or not to dismiss Min Hee-jin as CEO.
The decision to hold a shareholder meeting was announced today (May 10) by legal representatives of ADOR. According to The Korea Times, the move was made “under the attendance of all board members”, which included Min hee-jin, with the meeting set to be held on May 31.
The announcement comes just days after the ADOR CEO filed an injunction to prevent HYBE from exercising its rights at the upcoming shareholder meeting, per Korea JoongAng Daily. The entertainment giant owns 80 percent of the K-pop agency, while Min holds 18 per cent.
“HYBE has requested an extraordinary shareholders’ meeting to fire Min Hee-jin, CEO and board member of ADOR, which is a violation of the shareholders’ contract between Min and HYBE,” Min’s legal representative said on Tuesday (May 7).
“Min Hee-jin contends that HYBE’s argument regarding breach of trust by Min makes no sense, which is why she resulted in filing for the injunction in order to protect the corporate value of ADOR and its artists,” the representative added.
The confirmed date of the ADOR shareholder meeting comes amid an increasingly heated feud between ADOR CEO Min Hee-jin and HYBE over the ownership of the NewJeans label.
Last month, Min Hee-jin denied claims made by HYBE that she had planned to takeover the K-pop agency in a press conference. HYBE later responded to claims made by Min, alleging that the ADOR CEO had distorted the facts by mixing up the timeline .
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