In an official statement on August 28, Min Hee-jin’s side stressed, “ADOR’s board of directors removed Min Hee-jin from her position as CEO during a meeting held at 1:00 p.m. on August 27. This decision is a clear violation of the shareholders’ agreement and the court order prohibiting voting rights.“
The statement continued: “There have been reports stating that “Min Hee-jin will step down as CEO but will retain her position as an internal director at ADOR and will continue to manage production duties at NewJeans.” This information, based on materials distributed by the ADOR board of directors, is clearly false. The ADOR board of directors unilaterally notified that Min Hee-jin would be assigned production duties, but portraying this as if Min Hee-jin had voluntarily stepped down and chosen to continue only in a production role is a deception to the public..”
They further stated: “The court’s decision clarified that there were no illegal reasons as claimed by HYBE against CEO Min Hee-jin. However, ADOR’s board of directors, with a majority of directors appointed by HYBE, decided to remove her from the CEO role and, on top of that, distorted the facts to mislead the public into believing that it was not a dismissal.“
Previously, on August 27, ADOR announced: “The board of directors has appointed Kim Joo-young as the new CEO. Min Hee-jin will step down as CEO but will remain as an internal director at ADOR and continue her role as a producer for NewJeans.”
Source: Nate
