🔗 [Official] HYBE “Shareholders’ Agreement with Min Hee-jin Already Lost Validity, Irrelevant to CEO Dismissal”

…In response to a related inquiry from TenAsia on the 13th, HYBE explained, “The shareholders’ agreement concluded between HYBE and former CEO Min Hee-jin has already been terminated,” and “Upon termination, the validity of the shareholders’ agreement is lost.” They further said, “Since a ‘lawsuit for confirmation of termination of shareholders’ agreement’ has been filed to legally verify this, we just need to wait for the legal judgment.”

Continuing, HYBE added, “The dismissal of former CEO Min from the position of CEO was a matter decided independently by the ADOR board of directors based on management judgment,” and “It is a matter irrelevant to HYBE or the shareholders’ agreement.”

They also said, “We express regret that former CEO Min, who has emphasized the importance of independent management for ADOR as a separate company so far, is not following the decision of the ADOR board of directors.”