HYBE has initiated an audit of the management at ADOR, a subsidiary label that includes the group NewJeans.
On the 22nd, news emerged that HYBE had called for a shareholders' meeting of its subsidiary ADOR and demanded the resignation of CEO Min Hee-jin, as part of exercising shareholder rights.
According to initial reports, this action appears to be aimed at holding the ADOR management accountable for attempts to usurp management rights and to appoint additional HYBE directors.
ADOR is a label under HYBE, founded by CEO Min Hee-jin in 2021, with HYBE owning 80% of the shares. The remaining 20% is held by CEO Min and other ADOR executives.
In relation to this, HYBE briefly confirmed to DongA.com that "the audit rights have been activated."
CEO Min Hee-jin is a renowned producer who gained fame at SM Entertainment handling concepts and branding for groups like Girls' Generation, SHINee, and EXO. After moving to HYBE, she was responsible for branding and designing the new Yongsan headquarters and in 2022, debuted the girl group NewJeans, creating a flagship girl group for HYBE.
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