As a long-time fan and avid follower of K-pop and HYBE, I can’t help but feel a mix of emotions upon hearing about Park Ji Won’s resignation as CEO and the potential new leadership at the helm of this music powerhouse.
BTS’s parent company, HYBE Labels, is set for major leadership shifts. The current CEO, Park Ji Won of HYBE, has stepped down, and an announcement has been made regarding his potential successor.
In 2021, Bang Si Hyuk, founder of HYBE, relinquished his role as CEO. Taking over was Park Ji Won, who had previously held positions such as global COO at NEXON Japan and CEO of NEXON Korea. According to HYBE’s announcement, Ji Won would be responsible for “structuring the wider organization in response to the company’s fast expansion” and manage strategy and day-to-day operations.
HYBE announces new CEO as Park Ji Won resigns
On July 24, 2024, Park Ji Won, currently leading HYBE as CEO, announced his resignation. However, the music label assured that Ji Won would continue working for them. Additionally, HYBE has disclosed the identity of their potential new CEO.
Based on the latest news, Lee Jae Sang, who is currently the CSO (Chief Strategy Officer) at HYBE, is set to take over as the new CEO from Park Ji Won. This change will only occur once he obtains the necessary approvals from the company’s shareholders.
The company announced that they intended to name Lee Jae Sang as their new CEO. He brings a wealth of expertise from the entertainment industry, with a strong background in strategic planning and operational management, both in South Korea and abroad.
As a dedicated gamer following the exciting world of K-pop, I’ve been keeping an eye on the recent developments at HYBE, previously known as Big Hit Entertainment. And let me tell you, under the visionary leadership of Park Ji Won, this company has gone through some major transformations!
Park Ji Won resigns from his position as the CEO of HYBE after 4 years in charge.
— Kpop Charts (@kchartsmaster) July 24, 2024
In the latest financial update, HYBE disclosed that their Q1 earnings were roughly 360.9 billion won ($271.5 million), marking a 12.1% decrease from the previous year and representing their lowest quarterly revenue since Q1 of 2022, when they reported around 285 billion won ($214.4 million).
Despite the summer comeback of several prominent HYBE acts, sparking fan anticipation, it’s predicted that the company will experience increased earnings during the second part of the year. Additionally, HYBE has unveiled an abundance of upcoming content to keep fans engaged.
In August, the dynamic duo of BTS, Jimin and Jungkook, are set to debut their new Disney Plus program titled “Are You Sure?”. Meanwhile, up-and-coming star Le Sserafim is scheduled for a return with a new comeback in August as well.
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2024-07-24 19:12