HYBE CEO Park Ji Won has suddenly stepped down from his position. His resignation has long been rumored to take place due to management issues and ongoing court battles with Min hee, CEO of Ador, a subsidiary group under Hybe.
Lee Jae Sang, the current Chief Strategy Officer (CSO), has been appointed as the new CEO. HYBE announced on the 24th of July that Lee Jae Sang will be formally appointed as the CEO after approval at the upcoming shareholders’ meeting and board of directors’ meeting.
In a public message, HYBE stated, “Lee Jae Sang is an expert in the entertainment industry, with comprehensive experience in both domestic and international business strategy and operations. We expect him to contribute significantly to HYBE’s growth as an advanced entertainment lifestyle platform company based on music and technology.”
HYBE has been conducting a leadership transition project since the beginning of the year, and Lee Jae Sang has been identified as the right person to lead the new ‘HYBE 2.0’ strategy. Lee graduated from Yonsei University and has previously worked at Monitor Group, Hyundai Motor Company, and Google before joining HYBE, formerly Big Hit Entertainment in 2018.
Park Ji Won, steps down after three years of leadership in order to foster business expansion and new growth strategies.
What do you think of this?
Do you think he resigned due to pressure?