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| ▲ This photo, provided by Hybe on July 24, 2024, shows its chief strategy officer (CSO), named as the K-pop behemoth's new CEO, replacing Park Ji-won. (PHOTO NOT FOR SALE) (Yonhap) |
SEOUL, July 24 (Yonhap) -- Hybe announced on the 24th that Chief Strategy Officer (CSO) Lee Jae-sang has been appointed as the new CEO, succeeding Park Ji-won. The company plans to officially confirm Lee's appointment as CEO through a forthcoming shareholders' meeting and board resolution.
Hybe indicated that Lee Jae-sang was preemptively chosen as the ideal candidate to lead the company's forthcoming strategy, dubbed 'Hybe 2.0,' and has been preparing for this leadership transition since early this year.
Lee Jae-sang, a graduate of Yonsei University, has a diverse background, having worked at global management consulting firm Monitor Group, Hyundai Motor Company, and Google.
He joined Big Hit Entertainment, Hybe's predecessor, in 2018. Since then, he has held key positions including Chief Innovation Growth Officer (CIGO) at Big Hit Entertainment, CSO at Hybe, COO of Hybe America, and President of Hybe America, playing a pivotal role in Hybe's business strategy and investments.
Hybe's decision to name Lee as CEO comes in the wake of internal restructuring efforts, especially following recent controversies involving conflicts within the company. The leadership change is part of Hybe's broader initiative to renew its corporate direction and continue its growth trajectory.
Hybe explained that Lee, having led the design and implementation of the company's three-pronged business strategy structure—Label, Solution, and Platform—has been instrumental in steering major mergers and acquisitions (M&A) and the initial public offering (IPO) of Hybe.
"Lee Jae-Sang is a seasoned expert in the entertainment industry with extensive experience in both domestic and international business strategy and operations," Hybe stated. "We expect him to contribute significantly to Hybe’s growth as an advanced entertainment lifestyle platform company based on music and technology."
Park Ji-Won, who joined Hybe in 2020 and played a key role in the company's global business expansion, decided to step down, believing that new leadership would be beneficial for Hybe’s continued growth and new strategic initiatives.
Hybe added, "Park Ji-Won will continue to leverage his expertise and network to contribute to the growth strategy of the company, particularly in the convergence of entertainment and technology."
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