Former Ador CEO Files Injuction To Remain As Director After Her Current Term
Date
9/13/2024 6:02:36 AM
(MENAFN- The Peninsula)
The Korea Herald
Former Ador CEO Min Hee-jin, filed for an injunction Friday to be reinstated as a director at the company after her term ends Nov. 2.
Anticipating that the Ador board will not renew her term, Min's legal representative law firm Sejong and her PR firm, Macoll Consulting Group, announced that they had submitted a petition to the Seoul Central District Court, requesting an extraordinary general shareholders' meeting and Min's reappointment as an internal director.
Previously, Ador held a board meeting on Aug. 27 and decided to replace Min as CEO, appointing Ador's director Kim Joo-young as the new CEO. Although Min stepped down from the CEO position, she remained as a director and continued to handle production duties for NewJeans.
However, she argued that this decision was made unilaterally without her consent and claimed it was a significant breach of the shareholders' agreement.
Min's legal representatives explained that while they were preparing for an injunction to contest her dismissal as CEO, they have now filed for an injunction to convene an extraordinary general meeting and reappoint Min as a director before her three-year term expires on Nov. 2. Their goal is to reinstate her as a director and eventually reappoint her as CEO.
Min's side argues that the shareholders' agreement guarantees her a five-year term as CEO and internal director of Ador, criticizing Hybe for violating the court's previous decision to protect her term as CEO.
Meanwhile, NewJeans members criticized Hybe during a YouTube live broadcast on Wednesday, claiming they have been subjected to unfair treatment under the agency. They called for the reinstatement of Min Hee-jin as a CEO in charge of both management and production, setting the deadline by Sept. 25.
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