HYBE Stock Price Takes A Steep Dive Amid Fallout With ADOR’s Min Hee Jin
On April 22, HYBE reportedly asked ADOR‘s CEO, Min Hee Jin, to step down.
HYBE Reportedly Requests ADOR’s CEO Min Hee Jin To Step Down Amid Power Struggle
Min Hee Jin joined HYBE in 2019 as Chief Brand Officer. When ADOR was established as a sublabel of HYBE in 2021, Min Hee Jin became the CEO of the subsidiary. NewJeans debuted under the sublabel in mid-2022, and Min Hee Jin is widely regarded as the mastermind behind the popular K-Pop group.
Min Hee Jin and other senior management currently own 20% of ADOR, while HYBE owns the remaining 80%.
Following the news of the fallout, HYBE’s stock price took a steep dive. As of 3:30pm KST, HYBE’s stock price sits at ₩212,500 KRW (about $155 USD), a 7.81% drop compared to the previous day’s closing price of ₩230,500 KRW (about $168 USD).
As updates are still coming out and netizens are still buzzing about the report, there may be further significant movements to the stock price as more information becomes available.
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