On June 14, both Yang Hyun Suk and his brother announced their decision to step down from their positions in YG; however, netizens were less than impressed and for a very good reason.
Many Kpop fans are unaware that Yang Hyun Suk is not the CEO of YG but his younger brother is. Yang Hyun Suk held the position of the ‘representative producer,’ which means he was in charge of casting, training trainees, music and video production process of YG artists.
Despite the fact that YG does employee many people for other positions within the company, Yang Hyun Suk still holds the upper hand, he has the privilege over the company’s decisions as well as the content production part.
Industry insiders are skeptic about the influence of his resignation; he still has the majority of shares in his company.
This piece of information is obtained by looking at YG’s quarterly report in May, which stated that he owns 16.12% of shares which means he’s the major shareholder. His name was never even listed in the official list of board members, to begin with.
This is why most industry insiders were skeptical that Yang wouldn’t be easily separated from YG’s management, predicting that there would be no real blow. Even with his resignation, he may be able to continue influencing major decisions over the content production of YG’s artists.
His brother also owns 3.31% of the shares in the company.
What do you think of this?
My Personal Thoughts
I knew it!
I used to work for a startup company, and the CEO was selling some of her company shares. She spoke to me about details of it and that it should be conducted in a way that would grant her the freedom to do as she wishes with her company.
When I heard the news, I knew it wasn’t that serious (their resignation). He still holds the upper hand and that’s a fact.
I don’t like the way YG managed their artists because I see youth future being wasted due to empty promises. But again, I believe Yang Hyun Suk is not dumb, he wouldn’t put himself at disadvantage and give the majority of shares to others because he worked hard on his company, why would he give the upper hand to a stranger? [this is how all CEOs think, not only him]
Yang Hyun Suk could do as he pleases. I think the company needs a makeover. If Yang Hyun Suk continues to exercise control, it’ll be obvious because nothing will change about the way the company manages its artists.
They can continue to do what they’ve always done. However, if they want to survive and protect their legacy, there needs to be change. Pride must be let go if one wants the best for the thing they worked so hard on.