Hive Nominates CSO Lee Jae-sang As New CEO"Expecting Business Advancement"
Jul 24, 2024
|
Hive announced on the 24th that it plans to officially appoint Lee Jae-sang as its CEO after a general shareholders' meeting and a board resolution.
Hive appointed CSO Lee Jae-sang as the right person to lead the upcoming 'Hive 2.0' strategy, and has been working on a leadership transformation project since early this year.
After graduating from Yonsei University, Lee Jae-sang joined Big Hit Entertainment, the predecessor of Hive, in 2018, through global management consulting company Monitor Group, Hyundai Motor, and Google.
Since then, he has played a pivotal role in Hive's overall business strategy and investment, serving as Chief Innovation Growth Officer (CIGO), Hive CSO, Hive America COO, and Hive America CEO. In particular, Lee Jae-sang played a leading role in designing and settling Hive's three major business strategy structures, the label - solution - platform, and led the M&A and Hive IPO processes of leading labels and technology companies in Korea.
CEO-designate Lee Jae-sang is an entertainment industry expert with experience in strategizing and operating not only domestic but also overseas businesses, Hive said. "We expect Hive to demonstrate its capability to grow into an advanced entertainment lifestyle platform company based on music and technology."
CEO Park Ji-won, who has led Hive for the past three years, decided to resign as CEO because he believed it was desirable for Hive's global business expansion and new growth strategy to be promoted around new leadership.
CEO Park Ji-won, who took office in July 2021, more than doubled Hive's consolidated sales ('796.3 billion won in 2020 → '23, 2.1781 trillion won) and operating profit ('20 145.5 billion won → '23), respectively. For the first time in the entertainment industry, he was evaluated as a CEO who laid the foundation for multi-label and global business expansion by leading achievements such as exceeding KRW 2 trillion in sales.
CEO Park Ji-won is expected to contribute to the company's growth strategy based on his expertise and network in the area of convergence of the entertainment industry and technology in the future.
rightlight@sportschosun.com
