HYBE Corporation made a big change at KOZ Entertainment by replacing its executive board. This decision came after KOZ had poor sales, prompting HYBE to step in and make leadership changes. The shakeup shows HYBE’s dedication to high standards and marks a new beginning for KOZ Entertainment as it works to improve its sales and performance in the music industry.
HYBE Replaces KOZ Entertainment Executives After Sales Struggle
HYBE Labels, currently facing an internal conflict with its subsidiary ADOR, also replaced the executive board at another subsidiary, KOZ Entertainment, at the end of last year.
According to insider reports on May 23 KST, most of the board members at KOZ, including CEO ‘A’, were replaced because of poor sales. In 2023, KOZ Entertainment’s annual sales were 19.4 billion KRW (about $14.2 million USD), which was the lowest among all HYBE subsidiaries that year.
CEO ‘A’ is an industry veteran who has worked with Zico, the founder of KOZ Entertainment, for over 10 years. After leaving KOZ, ‘A’ is believed to have started GRIFFIN Entertainment, managing SHINee member Onew’s solo activities.
KOZ Entertainment was founded by musician Zico in November 2018 and was bought by HYBE in November 2020. The label manages Zico and the boy group BOYNEXTDOOR.
Amid the ongoing internal dispute between HYBE and its subsidiary ADOR, HYBE Labels’ CEO Park Ji Won commented, “We faced challenges while developing the new multi-label system. We will continue to fix what needs fixing to improve the system.”
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