[talk] Min Hee-jin, Adore Director Reappointment Injunction Application "Hive, Please Make a Reasonable Decision for New Jeans"

According to former CEO Min's side, former CEO Min is guaranteed a five-year term as CEO and inside director of Adore under the shareholder agreement between him and Adore's parent company, Hive.

Former CEO Min's side pointed out, "Despite the fact that this fact has already been clearly acknowledged by the Seoul Central District Court's injunction decision to prohibit the exercise of voting rights, Hive unilaterally dismissed former CEO Min Hee-jin from the position of CEO for the same reasons as before," adding, "This is a direct violation of the still valid shareholder agreement and the court's injunction decision to guarantee the term of the CEO."

Former CEO Min's three-year term as an inside director of Adore expires on November 2. Former CEO Min's side concluded, "HYBE is unilaterally claiming that the shareholder agreement has been terminated without any basis when former CEO Min Hee-jin's term as an inside director is less than two months away. Under these circumstances, it is self-evident that HYBE will not reappoint former CEO Min Hee-jin as an inside director."

"Therefore, we have inevitably filed an injunction to convene a temporary shareholders' meeting before the expiration of former CEO Min Hee-jin's term as an inside director and to exercise our voting rights in favor of the 'Motion to Re-elect Min Hee-jin as Inside Director,'" the company said. "We urge Hive to stop its continued breach of contract, obstruction of business, defamation and insults, and to make rational management decisions for the future of Adore and New Jeans," it added.