Chapter 420: Inauguration Meeting
At the end of April, YG Entertainment’s Chairman Yang Hyun-suk quietly left prison. Apart from a small number of media outlets still following the story, most media attention remained focused on the legendary new group, Girls' Generation.
Compared to the release of YG’s boss, who was already facing defeat and seemingly about to drop out of the top four entertainment companies, news related to Girls' Generation was undoubtedly more captivating.
Girls' Generation only performed their debut stage on a yacht, with subsequent performances held in studios. But even with just one such performance, this groundbreaking act moved countless viewers.
A good performance, even if only once, will still be remembered.
Therefore, every Girls' Generation stage attracted high attention from both media and audiences, causing other less prominent news to be overlooked.
The first thing Yang Hyun-suk did upon his release and return to YG was to convene a board meeting. At the same time, DM Entertainment also held a high-level meeting.
This phenomenon, once noticed by observant individuals, was dubbed “the beginning of a new round of war between DM and YG.”
What exactly was discussed in the meetings of the two companies remained unknown to the outside world, which could only speculate based on available information.
DM Entertainment’s meeting was, naturally, about Bae Joo-hyun.
Although DM Entertainment is not a listed company, and the appointment of high-level executives does not require approval from the board or shareholders’ meeting—Jiang Shu’s consent is sufficient—the executives who would be working together with her should still be informed.
For this purpose, Jiang Shu specifically convened this high-level meeting to pave the way for Bae Joo-hyun’s inauguration.
There were no objections at the meeting, as the position of Vice President, for highly centralized chairmen and presidents, is essentially a symbolic one.
But after the meeting, someone still sought out Jiang Shu.
“Chairman, regarding Bae Joo-hyun’s appointment as Vice President, perhaps it needs further consideration,” President Li said, standing in front of the desk, looking at Jiang Shu.
“She is just a figurehead; she won’t affect your position,” Jiang Shu said with a frown.
“You’ve misunderstood,” President Li shook her head. “I don’t object to reserving the Vice President position for an artist. I also agree with your reasoning; if it can truly be implemented, it would be very beneficial for the company.”
“However, Bae Joo-hyun’s sudden promotion to Vice President is too big a leap. If other artists are given similar appointments in the future, but at a much lower level than Vice President, it could have a negative effect,” President Li said, shaking her head.
“What you said makes sense, but besides the Vice President position, what other position would be more suitable for her?” Jiang Shu asked, looking at President Li.
“This…” President Li paused. It seemed there really wasn’t a more symbolic position than Vice President.
Associate Director?
Associate Directors are usually concurrently held by heads of departments, while Vice Department Heads are concurrently held by team leaders. As for team leader, the position is too low. No matter what, Bae Joo-hyun is the fourth largest shareholder of YG. Giving her a team leader position would be a pure insult, wouldn't it?
“How about this: let Bae Joo-hyun transfer her YG shares to the company, and she serves as Vice President, with the responsibility of managing these shares as the company’s representative shareholder in YG,” Jiang Shu suggested after some thought.
It seemed like a roundabout way, but it would provide a reasonable explanation for Bae Joo-hyun’s Vice President position.
She can be Vice President because she holds a significant amount of YG shares and has given them to the company. If any of you can do the same, the company can also make you Vice President.
“This method is feasible, but if the shares are transferred to the company, would Bae Joo-hyun be willing?” President Li asked, puzzled.
Those are YG shares. Would Bae Joo-hyun be willing to hand them over?
Managing shares under her own name versus managing shares under the company’s name is two different matters, after all, DM Entertainment is not Bae Joo-hyun’s personal property.
“She will agree,” Jiang Shu said casually.
Seeing Jiang Shu’s confident attitude, President Li, who was already curious about how Bae Joo-hyun came to possess so many YG shares, suddenly had a bold guess.
Bae Joo-hyun’s shares… could they have been given to her by Jiang Shu?
President Li knew that Jiang Shu had shares in S.M. and JYP, but she hadn’t heard about YG. However, judging from Jiang Shu’s past behavior, it wasn’t impossible.
Since he had shares in S.M. and JYP, there was no reason he would have overlooked YG.
The more she thought about it, the more reasonable it seemed, and her gaze towards Jiang Shu subtly changed.
If her guess was true, and the YG shares in Bae Joo-hyun’s possession were indeed given to her by Jiang Shu, then she would have to re-evaluate the relationship between Bae Joo-hyun and Jiang Shu.
“Any other questions?” Jiang Shu’s words interrupted President Li’s thoughts.
President Li looked at Jiang Shu.
“Does Bae Joo-hyun’s appointment need to be announced?”
Not all of DM Entertainment’s appointments are announced, but any announcement would generate discussion, let alone this time, with Bae Joo-hyun’s appointment.
“No announcement,” Jiang Shu shook his head. “It’s just a Vice President position. For now, news circulating within the industry is sufficient. Don’t spread it outside the industry; that would only increase the pressure on the PR department and serves no purpose.”
This initiative is aimed at artists, and has little to do with fans or the general public, so there’s no need to make it widely known through an announcement.
“Understood.”
“Anything else?”
“No, that’s all.”
“Then go to work. The company can’t do without you right now,” Jiang Shu said with a smile.
“Chairman, you are the soul of the company,” President Li also smiled. “Anyone can do my job. Without you, DM would no longer be DM.”
“The company can function without anyone,” Jiang Shu shook his head. “Go on.”
President Li felt Jiang Shu was a bit strange, but she didn’t think much of it. After bowing to Jiang Shu, she stood up and left.
As she exited the office, President Li saw Bae Joo-hyun waiting for her. How did she know Bae Joo-hyun was waiting for her?
When Bae Joo-hyun saw President Li come out, her eyes immediately lit up, and she scurried over to President Li, bowing respectfully.
“President Li!”
“Is something wrong?”
“Yes, it’s about my appointment,” Bae Joo-hyun nodded.
“Let’s talk in my office.”
“Yes.”
The two went together to the adjacent President’s office.
“President Li, my position as Vice President is merely a symbolic one. I will not interfere with company decisions, nor will I question them,” Bae Joo-hyun immediately expressed her intention not to meddle with company power as soon as they entered the office.
President Li was amused by her eagerness to show that she had no desire to contend for power or profit.
“You don’t have to worry about me being upset. I just discussed your matter with the Chairman, so I clearly understand the significance of your role as Vice President.”
“I am very supportive of this. Relax, do what you normally do, and express your stance when decisions are made. Our company is not a dictatorship, so you don’t need to worry too much.”
President Li’s words were meant to comfort Bae Joo-hyun, but hearing them only made Bae Joo-hyun more anxious.
