SEOUL, South Korea (CelebrityAccess) – Hybe, the South Korean talent agency behind popular K-pop groups such as BTS and NewJeans, announced CEO Park Ji-won plans to has stepped down from his leadership role at the company.
In a separate letter sent to Hybe’s employees, Park said he plans to remain with the company in an advisory role that allows him to leverage his expertise and networks, South Korean’s Yonhap News Agency reported.
Park first joined Hybe in 2020 and was elevated to the role of CEO in 2021, succeeding the company’s current chairman and former CEO, Bang Si-hyuk.
During his tenure, Park oversaw the company during a period of growth that included its public listing on the Korea Exchange as well as the acquisition of the U.S.-based Ithaca Holdings in 2021.
Following the news of Park’s exit, Hybe announced that Chief Strategy Officer Lee Jae-sang will step into the CEO role pending board approval, Yonhap reported.
Lee joined Hybe, then known as Big Hit in 2018. He previously held senior roles at Hyundai Motor Company and Google.
