Min Hee Jin reportedly planned on using NewJeans to make HYBE relinquish equity in the company.
Min Hee Jin | Pinterest
On April 22, news broke out that Ador CEO Min Hee Jin had been asked to step down. The CEO’s fallout with HYBE reportedly stems from a power struggle, as reports claimed that HYBE had found evidence that Min Hee Jin had tried to break away from HYBE’s umbrella.
As more details emerge, Hankyung News’ Market Insight reported that one insider claimed that Min Hee Jin had planned on leveraging her relationship with NewJeans to force HYBE into relinquishing equity in the company.
Rumors circulated claiming that CEO Min Hee Jin was looking for investors to break away from HYBE. I believe she was planning on using NewJeans to make HYBE sell their executive shares to her.
— Business Insider
The news comes as Min Hee Jin faces widespread backlash over her failed coup. You can read more about netizens’ reactions in the link below.
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