HYBE has reportedly asked Min Hee Jin, the CEO of its subsidiary ADOR, to step down. This news has sent ripples through the entertainment industry and has had a significant impact on HYBE’s stock prices.
Min Hee Jin, who joined HYBE in 2019 as Chief Brand Officer, took the helm of ADOR when it was established as a sub-label of HYBE in 2021. Under her leadership, the K-pop group NewJeans debuted in mid-2022 and quickly gained popularity. Min Hee Jin is widely recognized as the driving force behind this successful group.
NewJeans | @newjeans_official/Instagram
Currently, Min Hee Jin and other senior management own 20% of ADOR, with HYBE holding the remaining 80%. The news of this fallout has led to a steep decline in HYBE’s stock prices.
As of 3:30pm KST, the stock price sits at ₩212,500 KRW (about $155 USD), marking a 7.81% drop compared to the previous day’s closing price of ₩230,500 KRW (about $168 USD).
HYBE stock price as at 3:30pm KST | Google Finance
As the entertainment world continues to reel from this news, investors are keeping a close eye on the situation. With updates still coming out and netizens buzzing about the report, there may be further significant movements to the stock price as more information becomes available.
This event serves as a reminder of the volatile nature of the entertainment industry and the significant impact that changes in leadership can have on a company’s stock prices. As the story continues to unfold, fans of NewJeans and investors in HYBE alike will be eagerly awaiting further developments.
Saikat Nandy is an entertainment news writer who covers the latest trends and stories from the world of showbiz, has a keen eye for spotting the most interesting and relevant topics, and delivers them to his audience with flair and humor. He is also a freelance blogger, content writer, and website designer who loves to explore new technologies and creative ideas.
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