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Former Ador CEO Min Hee-jin speaks to reporters while leaving Yongsan Police Station in Seoul on July 9, following questioning over her alleged breach of trust. (Newsis) |
Min Hee-jin, the former CEO of the K-pop agency Ador representing girl group NewJeans, has raised objections to her recent dismissal.
In a statement issued through her legal representative Shin & Kim, Min argued that the decision to remove her as Ador CEO was "unilateral" and in direct violation of the shareholder agreement and court injunction prohibiting the exercise of Hybe’s voting rights to dismiss Min during a shareholders' meeting.
The shareholder agreement stipulates that Hybe must take necessary measures to ensure that Min remains as CEO and executive director of Ador for five years by exercising voting rights or having a Hybe-appointed director exercise voting rights on Ador's board of directors, according to Min’s legal representative.
On May 31, Hybe had sought to hold an extraordinary general meeting to vote on Min’s dismissal as CEO and internal director.
However, the court upheld a preliminary injunction filed by Min to prevent Hybe from exercising voting rights in favor of the proposal.
Min’s legal representative clarified that the court’s decision was based on the absence of valid grounds for her dismissal or resignation.
Hybe, on the other hand, argues that Min's dismissal is permissible due to the "termination of the shareholder agreement."
Hybe added that a lawsuit has been filed to confirm the termination of the shareholder agreement with some shareholders including Min.
Min refutes the claim, arguing that there is no basis for Hybe’s assertion and that she has not acknowledged the termination of the shareholder agreement.
“The dismissal decision is a clear violation of the agreement and a disregard for the court’s ruling,” said Min.
On Tuesday, Ador announced that Min had stepped down as Ador CEO while retaining her position as an executive director and producer for NewJeans.
Min called this statement misleading as she was dismissed against her will, and her continued involvement in producing was merely an attempt by Hybe to mislead the public.
Min also claims Ador’s board meeting was procedurally flawed.
“A week’s notice is required to convene a board meeting, but the board altered the notice period to prevent Min from adequately preparing for her defense. We suspect this was a deliberate attempt to circumvent her ability to contest the decision,” said Min’s legal representative.
The Ador board dismissed Min Hee-jin at a meeting Tuesday and shared the CEO dismissal agenda on Aug. 24.
The Ador board defended its actions, stating that the board meeting and decision-making process adhered to legal and procedural standards.
It added that the meeting schedule was set based on a date Min had previously requested for postponement and that Min participated via video call.
The board claimed it made the best decision for the future of Ador and NewJeans after a thorough discussion.
Ador appointed Kim Joo-young, Hybe’s chief human resources officer, as its new CEO on Tuesday.
