Hybe's sublabel ADOR’s CEO Min Hee-jin refused the entertainment giant's request to convene an ADOR board meeting on April 30.
According to a music industry insider on Monday, Min sent a response to Hybe on Monday morning, saying she would not convene a board meeting. She claimed that Hybe's request to replace her as ADOR's CEO, as well as the internal board members was itself illegal and that the auditor's convening of the board of directors meeting was also outside of its authority and therefore not legal.
However, a Hybe official argued that ADOR's articles of incorporation state that the auditor has the authority to monitor the execution of the director’s duties, and has the right to directly convene the board of directors upon request.
Hybe had previously requested on April 22 that the board of directors hold a meeting on May 30, to replace its management through an audit of ADOR, due to the alleged attempt by Min and others to seize management control of the sublabel.
Hybe has already applied for permission to hold an extraordinary shareholders' meeting with the Seoul Western District Court last week, as it plans to replace ADOR's management within one to two months.