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January 20, SM Entertainment Announced plans to implement a revised management structure in 2023.
Previously, SM Entertainment worked with its shareholders Alignment Partners Capital Management Revise the internal management structure of the institution. SM Entertainment and Align Partners reached an agreement on 12 items through which the entertainment company’s management structure will be amended, many of which will take effect after the company’s general meeting of shareholders in March 2023, the agency said on the same day.
Notably, the President Lee Chang Hwan The president of Align Partners will be named to the board at this full board meeting in March, and various other internal changes have gradually shifted SM Entertainment’s structure to a global governance model. Important to this change is the establishment of an Internal Transactions Committee that will closely monitor and investigate past and future internal financial transactions.
In addition, starting in 2023, SM Entertainment will adopt a multi-producer system, recruiting many talented producers to inherit, maintain and develop the musical identity of SM Entertainment and its artists.It seems that through this multi-production system, SM Entertainment will no longer be completely dependent on the head producer Li Xiuman Creative direction for all musical projects.
Finally, on behalf of the co-chairs Lee Sung Soo and yes junSM Entertainment assures that all conflicts with external shareholders have now been resolved through the recent agreement with Align Partners Capital Management.
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