ADOR to carry shareholder assembly on dismissing Min Hee-jin
Okay-pop company ADOR, residence to in style lady group NewJeans, is about to carry a shareholder assembly later this month to vote on whether or not or to not dismiss Min Hee-jin as CEO.
The choice to carry a shareholder assembly was introduced immediately (Could 10) by authorized representatives of ADOR. In line with The Korea Times, the transfer was made “beneath the attendance of all board members”, which included Min hee-jin, with the assembly set to be held on Could 31.
The announcement comes simply days after the ADOR CEO filed an injunction to stop HYBE from exercising its rights on the upcoming shareholder assembly, per Korea JoongAng Daily. The leisure big owns 80 % of the Okay-pop company, whereas Min holds 18 per cent.
“HYBE has requested a unprecedented shareholders’ assembly to fireplace Min Hee-jin, CEO and board member of ADOR, which is a violation of the shareholders’ contract between Min and HYBE,” Min’s authorized consultant stated on Tuesday (Could 7).
“Min Hee-jin contends that HYBE’s argument relating to breach of belief by Min is not sensible, which is why she resulted in submitting for the injunction in an effort to shield the company worth of ADOR and its artists,” the consultant added.
The confirmed date of the ADOR shareholder assembly comes amid an more and more heated feud between ADOR CEO Min Hee-jin and HYBE over the possession of the NewJeans label.
Final month, Min Hee-jin denied claims made by HYBE that she had deliberate to takeover the Okay-pop company in a press convention. HYBE later responded to claims made by Min, alleging that the ADOR CEO had “distorted the information by mixing up the timeline”.
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