Min Hee-jin stepped down as the CEO of K-pop girl group NewJeans' label ADOR on Tuesday. According to the company, the resignation was announced during its board meeting, where Kim Ju-young, a director of the board, was appointed as the new CEO. Min will remain on the company's board of directors and continue to produce music for NewJeans. With this change, ADOR has separated production from management. Kim, the newly appointed CEO, is an expert in human resources management with experience from various other industries, including Yuhan-Kimberly and Krafton. She will be responsible for stabilizing the organization and internal restructuring of ADOR, according to the label. "The separation of production and management has been a consistent principle of (Hybe's) multi-label system, applied to all other labels. Until now, ADOR was the only exception where the CEO oversaw both production and management," the label said. The replacement comes about four months after the conflict between ADOR's parent compan y Hybe and former CEO Min came to the surface in April. Hybe, which owns 80 percent of ADOR's shares, attempted to dismiss Min at the label's extraordinary shareholders' meeting on May 31, citing her alleged attempt to seize management control of her company. However, the attempt was unsuccessful as the court accepted Min's injunction request to prohibit Hybe from exercising its voting rights to dismiss her during the May 31 meeting. Hybe put three of its executives on the board during the meeting, taking over control of the board. Two directors of the label's board identified as Shin and Kim, who are Min's close aides, were removed. The three new directors are its Chief Human Resources Officer Kim, the then Chief Strategy Officer and current CEO Lee Jae-sang and Chief Financial Officer Lee Kyung-jun. It appears that ADOR was able to achieve the replacement of its CEO based on the 1-3 board composition in favor of Hybe. The label explained that the court's decision to grant the injunction in May is unrel ated to Tuesday's board decision as it applies only to the May 31 shareholders' meeting. The company pledged in a statement to provide full support for NewJeans' growth and greater success with the personnel change and restructuring. Source: Yonhap News Agency
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