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HYBE Names Jason Jaesang Lee New CEO
In a major leadership shakeup at the world's top K-pop company, HYBE promoted Jason Jaesang Lee to be the company's new CEO, replacing Jiwon Park
“Jason is an entertainment industry veteran with vast experience in strategic planning and operations across both domestic and overseas businesses,” the company said in the statement. HYBE’s revenue-generating engine showed signs of slowing earlier this year when the company reported in May that its first quarter revenue fell to the lowest point in two years, and earnings before interest, taxes, depreciation and amortization (EBITDA) fell to the lowest point since the first quarter of 2021. Park, who was named CEO in July 2021 when HYBE founder Bang Si-Hyuk transitioned to board chairman, “decided to step down … [and] will continue to contribute to the company’s growth strategy by leveraging his expertise in the intersection of entertainment and technology,” according to the statement.
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