Feud Worsens As ADOR Min Hee Jin Refuses HYBE’s Board Of Directors Meeting
In the latest update to the situation between ADOR’s CEO Min Hee Jin and HYBE, on April 29, 2024, it was reported that Min Hee Jin has refused HYBE’s call of a board of directors meeting.
It was reported that Min Hee Jin rejected the call for two reasons. The first is that it is illegal for HYBE to make a request to change out ADOR’s CEO and board of directors. The second, is that the convention of the board of directors that have been audited are also outside of HYBE’s rights and therefore illegal. Min Hee Jin stated that “the rights to a convention of audited board of directors are only limited to the scope of the audit’s requirements, and their call is hence illegal.” To put it simply, HYBE’s audit against ADOR and its management is not yet complete. Yet, they are already requesting a convention of the board of directors, including that of ADOR, to expedite the process of dismissing Min and her directors.
Back on April 25, HYBE had already submitted a request to the court for an emergency shareholders’ meeting in the case that the call for a directors’ meeting did not pull through. Their backup plan of the shareholders’ meeting seeks to dismiss Min Hee Jin as the CEO of ADOR, as well as change the management board for the label. According to business and legal practices, even emergency shareholders’ meetings will take at least 8 to 9 weeks to happen. HYBE has stated that “in accordance with their articles of association, they have the authority to audit the performance of directors as well as call for the convention of the board of directors. Hence, the company does not understand why CEO Min Hee Jin is not responding to the call.”
You may read more about the feud below. On April 22, 2024, HYBE launched a sudden audit against Min Hee Jin, claiming that she had tried to take over the management rights to ADOR.
“Black Propaganda” — Min Hee Jin Claims That HYBE Is “Trying To Destroy Her” Using Media Play
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