[Exclusive] Adore CEO Jae-sang Lee is expected to succeed Min Hee-jin as Hive CSO.. New Genes-related business changes expected
While Hive is focusing its efforts on dismissing Adore CEO Min Hee-jin, Hive's C-level (a term for top management), including Hive CSO (Strategy Manager) Jae-sang Lee, are being considered as strong candidates for the new Adore board of directors.
According to the investment banking (IB) industry on the 22nd, Hive CSO Jae-sang Lee, Hive CHRO (Chief Human Resources Officer) Joo-young Kim, and Hive CFO (Chief Financial Officer) Gyeong-jun Lee will be named as new board members at Adore's extraordinary general shareholders' meeting to be held on the 31st. He is being mentioned as a strong candidate.
The two agenda items at this Adore extraordinary general shareholders' meeting are the dismissal of three current Adore directors, including CEO Min Hee-jin, and the appointment of three new board members. Accordingly, it is said that Hive has been considering candidates for Adore's board of directors from early on.
Among the Hive C-Levels currently being discussed as Adore's new board of directors, the person most likely to be the new CEO of Adore is Jae-sang Lee, CSO. CSO Lee Jae-sang was also the person Hive proposed as a candidate for SM director when Hive was competing to acquire SM Entertainment (hereinafter referred to as SM). CSO Lee Jae-sang, who was the CEO of Hive America at the time, was thought to be the new CEO of SM if Hive acquired SM. Jae-Sang Lee, CEO of Hive America at the time, said that Hive had already successfully operated the main business of 'SM 3.0', and that after reexamining SM's existing strategy overall, the implementation of a strategy based on the Hive business model was a key factor for success. He also suggested.
CHRO Kim Joo-young was the first woman to head the human resources team at Yuhan-Kimberly, and is a human resources expert who was scouted by Hibro while working as the head of the HR division at Crefton. CFO Lee Gyeong-jun worked in accounting at Samil PwC, PwC Sydney, and Kim & Chang, and is considered a major contributor to Hive's KOSPI listing. CFO Kyung-Jun Lee also serves as an internal director at Source Music, a label under Hive.
Rumor has it that these three Hive C-level members were rumored to be members of Adore's board of directors from the beginning of this incident.
Centered around Jae-sang Lee, CSO, Jin-soo Jeong, Chief Legal Officer (CLO) of Hive, and Jin-hwa Lee, Head of Management Planning at Hive, are also being discussed as candidates for new directors of Adore. All three are also candidates for SM's new director proposed by Hive during the SM takeover.
If the court accepts the court's request for a temporary injunction to ban voting rights filed by CEO Min Hee-jin against Hive, only two of Adore's three board members will be dismissed and newly appointed. In this case, since Hive personnel control the majority of the board of directors, a board meeting may be held and a motion to dismiss CEO Min Hee-jin may be passed. However, in this case, CEO Min Hee-jin can file a lawsuit against Hive for violation of the shareholder agreement.
At this time, Hive has a plan to change the Adore system to a two-person system with a production manager and a management representative. Currently, among the labels under Hive, except Adore, all other companies have a two-person system, a production manager and a management representative. Adoreman CEO Min Hee-jin will be in charge of both management and production management.
A high-ranking Hive official said, “There are currently no plans to officially announce the appointment of directors at Adore’s extraordinary general shareholders’ meeting to be held on the 31st,” but added, “In production and management, overall efficiency increases when experts focus on the areas they are good at. “Problems can arise when one person takes charge of the other,” he said. Therefore, Hive may scout a new person as head of production after replacing Adore's board of directors.
Meanwhile, changes in the Adore system are expected to be inevitable depending on whether the court cites or dismisses the case.
This is because many of Adore's team leaders submitted a petition to CEO Min Hee-jin in response to this provisional injunction request. Members of New Jeans, the only idols under Adore, and the members' parents also submitted a petition to CEO Min Hee-jin.
Therefore, if CEO Min and other members of the board of directors of Adore turn into Hive's personnel, many of them may quit Adore. In response, Hive said, "Only about three or four people who are responsible for taking over management rights will step down," adding, "What are the other people guilty of?"
Apart from Hive's position, if a large number of Adore employees quit, it cannot be ruled out that other labels such as Pledis and Billie Lab under Hive will take charge of New Jeans' work for the time being. In fact, Park Ji-won, CEO of Hive, told three New Jeans members' mothers, who held an interview on the 25th last month, "Although CEO Min did not share the data of New Jeans Tokyo Dome in June, Hive will be able to proceed well because there are many professionals."
Source:
https://m.entertain.naver.com/article/241/0003352185