JAKARTA - The ADOR label that houses NewJeans has just announced that Min Hee Jin has resigned from his position as CEO of the label. However, Min Hee Jin claims the decision was made unilaterally.
"(Min Hee Jin) was notified on Saturday, August 24 that a board of directors meeting will be held on August 27 regarding the change in position of CEO and he attended a telephone meeting on August 27," said representative Min Hee Jin.
The decision to withdraw CEO Min Hee Jin was unilateral without his permission, which clearly signifies a violation of the shareholder's agreement, they continued.
ADOR explained that although Min Hee Jin was no longer in the CEO position, he was still a producer for NewJeans.
The company announced that CEO Min Hee Jin would continue production for NewJeans, but this was not discussed with him and his unilateral decision from the company, they said.
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Min Hee Jin recruited SHIN & KIM LLC law firms to explain his position. The shareholder agreement states HYBE must hold elections so that Min Hee Jin can maintain his position as CEO and executive director.
This information is based solely on a clear meeting of directors of lies. CEO Min Hee Jin was removed from his position and he did not resign. The director only informed Min Hee Jin unilaterally," the firm continued.
This information deceive the public to make the news as if Min Hee Jin resigned from his own CEO position. The board of directors' decision also has problems with the procedurality," he said.
The firm also claimed there was a requirement that the board of directors meeting was notified to the director a week earlier, but Min Hee Jin was only notified three days before the meeting day.
"We would like to state that the decision to dismiss Min Hee Jin violates the shareholder's agreement and the decision is made illegally and rejects the court's decision," said representative Min Hee Jin.
Until now, HYBE has not responded to Min Hee Jin's claim.
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