After rumors of his resignation spread earlier today, SM Entertainment has released an official statement confirming and clarifying Lee Soo Man's departure from the company.
A spokesperson has confirmed that SME founder Lee Soo Man is to formally withdraw from his public management director's position at SM Korea today, February 25, 2010. He will however maintain his stocks and stay as the main shareholder of the company.
According to an SME spokesperson, "From now on Lee Soo Man will focus only for future foreign production activities."
Also, there will apparently be no change in SME's administration and Kim Young Min will remain as the CEO of the company.
Accompanying speculations of LSM's departure, rumors that Avex Japan sold all their SME shares. There is now another rumor circulating that Avex sold their shares only to buy more.
Source: SPN, Daily News Korea
Translation: DBSKnights, oneTVXQ.com
A spokesperson has confirmed that SME founder Lee Soo Man is to formally withdraw from his public management director's position at SM Korea today, February 25, 2010. He will however maintain his stocks and stay as the main shareholder of the company.
According to an SME spokesperson, "From now on Lee Soo Man will focus only for future foreign production activities."
Also, there will apparently be no change in SME's administration and Kim Young Min will remain as the CEO of the company.
Accompanying speculations of LSM's departure, rumors that Avex Japan sold all their SME shares. There is now another rumor circulating that Avex sold their shares only to buy more.
Source: SPN, Daily News Korea
Translation: DBSKnights, oneTVXQ.com
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