K-Pop behemoth YG Entertainment has appointed a new CEO.
Following the resignation of CEO Yang Min-suk, the brother of founder and producer Yang Hyun-suk, YG Entertainment’s board of directors held a special meeting on June 20 and announced Hwang Bo-kyung as the company’s new head.
Hwang has been with YG Entertainment since 2001 and has taken up the role of an executive director and CFO.
“I feel heavy responsibility and a sense of duty during this difficult time. I will straighten out the basics in order for YG Entertainment to take a step forward,” she said, according to US-based Korean pop culture website Soompi.
During the board meeting, it was determined that YG Entertainment will transform the company’s business model. So, it seems a lot of positive changes will be made moving forward.
The decision comes a week after former iKON member B.I’s drug allegations and the ongoing legal scandals involving the company, its artists, and former chief producer and founder Yang Hyun-suk.