SEOUL, South Korea (CelebrityAccess) — Hybe, the South Korean entertainment company formerly known as Big Hit Entertainment, announced a shakeup in senior leadership as Chairman Bang Si-hyuk resigns from the post of CEO to instead focus on his role as Chairman of the Board.
In his place, Hybe has named Park Ji-won as the company’s new Chief Executive. Park, who joined Hybe last year, previously served as CEO of game publisher Nexon Korea, as well as CEO of Hybe HQ.
Since joining Hybe, Park has focused on reorganization the company’s org chart to position it for growth. From now on, he will oversee the overall management strategy and operation of the company.
In the U.S., Hybe will be lead by Yoon Seok-jun and Scooter Brown, who will serve as co-CEOs. CEO respectively, with Braun overseeing U.S. operations with an eye towards growth.
Hybe’s Chief Strategy Officer Lee Jae-sang, who led the company’s acquisition of Ithaca Holdings, will also move to the US as Chief Operation Officer (COO) of Hybe America.
In Japan, Hybe has integrated several separate entities such as Hybe Solutions Japan and Hybe T&D Japan, and Hybe Labels Japan and launched a new headquarters. The regional office will be overseen by Han Hyun-rok.
Additionally, Hybe announced it has formed a joint venture with Universal Music to help transplant the K-pop business model to the U.S., covering everything from production and nurturing young artists, to marketing.
As part of the J.V., Universal will host a global audition seeking talent for the North American k-pop transplant plan.
“This leadership changes are the result of our strong desire to take the lead in overall systemic change from leadership to realizing our mid- to long-term business strategy to become a global company. With the goal of leading aggressively, we have reorganized the scope of powers and responsibilities according to the expertise of each leader,” Hybe said in a press statement.