Ex-ADOR CEO Min Hee-jin files injunction to be reappointed as internal director

nme.com:

ADOR, Min Hee-jin, has filed a court injunction seeking reappointment as an internal director for the company board.On September 13, a representative of Min released a statement to press announcing that the music executive had filed for an injunction for an “extraordinary general meeting of shareholders to reappoint Min Hee-jin as an internal director of ADOR with the Seoul Central District Court”.“The dismissal of former CEO Min Hee-jin is a violation of the shareholders’ agreement and contradicts the court’s decision to prohibit the exercise of voting rights,” the statement read, as translated by Soompi. “Considering the need for an extraordinary general meeting of shareholders to reappoint [Min Hee-jin as] ADOR’s director by November 2, 2024 and the court’s review period for the injunction, we applied for an injunction to reappoint former CEO Min Hee Jin as a director of ADOR and then appoint her as CEO.”According to the statement, Min was guaranteed a five-year term as ADOR’s CEO and an internal director of the ADOR board of directors under the shareholders’ agreement.

Despite the court’s recognition of this, Min and her representatives claim that she was “unilaterally dismissed” by HYBE regardless.“This is a direct violation of the still-valid shareholders’ agreement and the court’s injunction decision to guarantee the CEO’s term,” the statement read.

Min’s representation alleged that HYBE continues to claim that her agreement has been terminated “without any basis although there are less than two months left on [Min’s] term as an internal director”.Therefore, instead of filing for an injunction for her reappointment as CEO, Min and her team have decided to file an injunction to hold a shareholders’ meeting to.