South Korea-based entertainment giant HYBE has undergone a major leadership change.
Jiwon Park, who served as HYBE’s CEO for the past three years, has resigned from the company.
HYBE said Park has led the company to achieve “unprecedented growth” during his tenure as CEO, which began in July 2021.
The company added that Park will continue to contribute to its growth strategy by “leveraging his expertise at the intersection of entertainment and technology.”
this In July 2021, the executive was named CEO of HYBE after Bang Si-hyuk resigned as CEO as part of the company’s previous major leadership shake-up. Bang Si Hyuk continues to serve as chairman.
Since then, Park has been responsible for overseeing HYBE’s overall management strategy and operations.
HYBE also announced today (July 24) that Jason Jaesang Lee, the company’s current chief strategy officer, has been appointed as the new CEO, approved by the shareholders’ meeting and board of directors resolutions.
The company said that since joining HYBE (formerly Big Hit Entertainment) in 2018, Lee has played an important role in shaping its business strategies and investments.
He has held important positions such as Chief Innovation and Growth Officer, Chief Strategy Officer, Chief Operating Officer of HYBE AMERICA, and President of HYBE AMERICA.
HYBE notes that with his extensive experience in the entertainment industry, Lee has built a “three-pillar business model” across label, solutions and platform businesses, while leading the company’s IPO and numerous M&A.
Prior to joining HYBE, Lee worked at Monitor Group, Hyundai Motor and Google.
According to HYBE, the leadership changes will “facilitate[e] A strategic change aimed at promoting HYBE’s global expansion and its new growth strategy.”
The company added that the transition has been part of HYBE’s “ongoing leadership plan” since early 2024, positioning Lee as a “central figure” in what it calls “the strategic rollout of HYBE 2.0.”
“Jason is an entertainment industry veteran with extensive experience in strategic planning and operations for domestic and international operations.”
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“Jason is an entertainment industry veteran with extensive experience in strategic planning and operations of domestic and overseas operations,” HYBE said in a statement to MBW.
“Under his new leadership, we look forward to becoming a global entertainment lifestyle platform company.”
Today’s announcement comes weeks after news broke of the departure of another senior HYBE executive, Lenzo Yoon, who is reportedly set to leave the South Korea-based company at the end of 2024.
The CEO is the former global CEO of HYBE. Most recently, he served as Co-CEO of HYBE America, a role he held with Scooter Braun until January 2023, when the latter became the sole CEO of HYBE America.
HYBE’s revenue in the first quarter of 2024 will reach 360.92 billion won ($271.57 million Calculated at the average exchange rate in the first quarter), a 12.1 year-on-year According to the company’s latest financial report released on Thursday (May 2), the company’s stock price fell.
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