It is reported that earlier this year CEO MHJ's requested the...
TMIKpop@tmikpop
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Dec 25, 2025
~1 min read
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It is reported that earlier this year CEO MHJ's requested the exclusive right to be able to terminate the New Jeans contract. This demand came after Hybe and MHJ engaged in a battle over the valuation (30x) and timing (when she could execute the put option) of her shares.
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According to various industries insiders, CEO MHJ's law firm sent Hybe an amendment to the shareholder agreement that contained this demand in February of this year. If MHJ's request was accepted, CEO Min by herself could terminate the exclusive contract of NewJeans.
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Under the current contract, termination of an artist's contract requires approval of the board of directors, as is standard within other agencies. It is said that Hybe rejected CEO Min's proposal as unreasonable.
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Currently Ador's BOD consists of three people including herself and two associates. (The Hybe auditor is present at the board meeting). MHJ's board can vote to terminate the New Jeans contract. However, if Hybe learned of this, Hybe as the majority shareholder can convene an EGM
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and replace Ador's BOD. If the Hybe BOD rejects the contract termination, NewJeans is prevented from leaving. If CEO Min had the right to terminate the contract at any time, Hybe would not have the ability to prevent NewJeans from leaving.
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Since NewJeans is the only singer under the Ador label, only staff would remain in the company. Hybe believes this request from CEO Min was in line with the transcript released in the interim audit report of the conversation titled "Ador becomes an empty shell"
