Former Ador CEO Min Hee-jin is taking legal action to be reinstated as a director at the company after her term ends on November 2. Anticipating that the Ador board will not renew her term, Min’s legal representatives have filed a petition to the Seoul Central District Court for an extraordinary general shareholders’ meeting and her reappointment as an internal director. This comes after Ador decided to replace Min as CEO and appointed Kim Joo-young as the new CEO, which Min claims was done without her consent and was a breach of the shareholders’ agreement. Her legal team is aiming to reappoint her as a director and eventually as CEO.
The controversy surrounding Min’s dismissal has caused NewJeans members to speak out against Hybe, the parent company of Ador. During a YouTube live broadcast, the group criticized Hybe for unfair treatment and called for Min Hee-jin to be reinstated as a CEO in charge of both management and production. They have set a deadline for Hybe to respond by September 25. This public display of support for Min adds to the pressure on Ador and Hybe to address the situation and consider reinstating Min to her previous roles within the company.
Min’s legal representatives have stated that they were initially preparing for an injunction to contest her dismissal as CEO. However, they have now filed for an injunction to convene an extraordinary general meeting and reappoint Min as a director before her term expires. This legal action is part of the ongoing dispute between Min and Ador over her dismissal as CEO and the alleged breach of the shareholders’ agreement. The goal is to reinstate Min as a director and potentially as CEO, based on the terms of the agreement.
The situation at Ador highlights the complexities of corporate governance and management changes within a company. The decision to replace Min Hee-jin as CEO and the subsequent legal action taken by her reflect the challenges that can arise in corporate leadership transitions. The involvement of NewJeans members in supporting Min adds another layer of complexity to the situation, as their public criticism of Hybe could impact the company’s reputation and decision-making process.
The upcoming decision on Min’s injunction and the potential reinstatement of her as a director and CEO will have significant implications for Ador and Hybe. The resolution of this dispute will not only affect the leadership structure within the company but also the relationship between management and employees. The pressure from both legal action and public support from NewJeans members adds to the urgency for Ador and Hybe to address the situation and come to a resolution that satisfies all parties involved.
In conclusion, the legal action taken by Min Hee-jin to be reinstated as a director at Ador, and potentially as CEO, highlights the ongoing dispute over her dismissal and the alleged breach of the shareholders’ agreement. The involvement of NewJeans members in supporting Min adds a layer of complexity to the situation, as they have publicly criticized Hybe for unfair treatment. The outcome of this dispute will have significant implications for corporate governance and management at Ador, as well as the relationship between the company, its employees, and its parent company Hybe. It remains to be seen how this situation will be resolved and what impact it will have on the future of the company and its leadership.
