Scooter Braun is transitioning out of his position as CEO of HYBE America and can change into an govt advisor as a director of the board and senior advisor to HYBE chairman/CEO Bang Si-Hyuk, the corporate introduced at this time (July 1). As well as, Braun might be pursuing new ventures exterior of HYBE whereas nonetheless being concerned with the corporate.
Braun, who continues to be HYBE’s second-largest particular person shareholder, first joined HYBE in 2021, when the South Korean firm bought his Ithaca Holdings. He then served as co-CEO of HYBE America alongside Lenzo Yoon till January 2023, when he grew to become sole CEO; a supply tells Billboard Braun’s transition serves because the conclusion of his preliminary contract with HYBE. Succeeding him as CEO of HYBE America might be Isaac Lee, who had beforehand been chairman of the division and can add the chief govt title to his remit.
“Scooter has been a unprecedented companion, a visionary govt, and a real catalyst for cultural alternate,” Bang Si-Hyuk mentioned in a press release. “His contributions have been important in establishing our bold presence within the U.S. market. I’m deeply grateful for his management, his astute instincts and his unwavering ardour for artists. We want him immense success in his thrilling subsequent chapter and look ahead to persevering with our partnership in executing HYBE’s international imaginative and prescient.”
As HYBE America CEO, Braun oversaw Massive Machine Label Group — which he had initially bought by Ithaca Holdings for $300 million in 2019 — and High quality Management Music, which HYBE acquired for $300 million in 2023, amongst different pursuits. He’ll proceed to have enter on a number of HYBE initiatives, together with KATSEYE and Alan’s Universe, in addition to board-level selections and serving to the transition to Lee as CEO. His subsequent transfer, whereas at the moment unknown, is alleged to “replicate his expansive cross-industry imaginative and prescient and confirmed skill to domesticate tradition at scale whereas persevering with a give attention to his philanthropic efforts,” in line with a press launch.
“Being part of HYBE and witnessing its outstanding development has been some of the inspiring chapters of my skilled journey,” Braun mentioned in a press release. “Chairman Bang is a real visionary and a musical genius. What he has constructed with HYBE is unparalleled. I’m extremely happy with our collective accomplishments and look ahead to supporting Chairman Bang and CEO Jason Jaesang Lee of their continued success as I step into what’s subsequent.”
