Ador, a sublabel of K-pop powerhouse HYBE, will hold a critical board meeting Friday in what is expected to mark a decisive moment in the protracted conflict between the sublabel’s CEO and HYBE.Sources in the music industry said Tuesday the meeting will take place at 9 a.m. Friday at an undisclosed place in downtown Seoul.Convening an extraordinary shareholders’ meeting is on the agenda of the upcoming board meeting, according to other media reports.Earlier, the lawyer for Min Hee-jin, CEO of Ador, told reporters shortly after a court hearing last Tuesday that the board of directors would convene a board meeting by May 10 and an extraordinary shareholders’ meeting by the end of the month.
This schedule, unveiled by Min’s side, is about one to two weeks faster than HYBE’s plan to call an extraordinary shareholders’ meeting with court permission, indicating her determination to maintain control of the issue.It remains unknown what agenda Ador will bring to the shareholders’ meeting and exactly when and where it will take place.The court may intervene in the conflict by accepting HYBE’s request to call one to discuss the replacement of the label’s management if the board refuses to discuss the matter during the shareholders’ meeting.The board meeting comes as the two sides continue to exchange salvos in the ongoing conflict over allegations that the current management of the sublabel, home to popular girl group NewJeans, attempted to take over control of the company.HYBE currently holds an 80 percent stake in Ador while the label’s management holds the remaining 20 슬롯게이밍 percent.