HYBE Responds To Reports About Changes In ADOR's Management

HYBE has clarified reports about ADOR’s management.

On May 23, industry representatives reported that HYBE’s CSO (chief strategy officer) Lee Jae Sang, HYBE’s CHRO (chief human resources officer) Kim Ju Young, and HYBE’s CFO (chief financial officer) Lee Kyung Jun are among the individuals likely to appointed to ADOR’s board of directors after removing the current board members at the extraordinary meeting of shareholders on May 31. The report also stated that there is potential for a different HYBE label to manage NewJeans temporarily if a large portion of ADOR employees resign following the management changes.

In response to the report, HYBE released the following statement:

We would like to provide an explanation as reports regarding the composition of ADOR’s management are circulating.

The documented CEO of ADOR has not yet been determined.

It is also not true that another label could take charge of production [for NewJeans].

The roles and scopes of the three director candidates, as well as plans for organizational stabilization and support, will be disclosed as soon as they are decided.

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