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Scooter Braun Transitions Out of HYBE America CEO Role, Will Explore New Ventures
In a surprise move, Scooter Braun has announced his transition out of the CEO role at HYBE America. The sudden departure marks an end to his initial contract with the company.
Braun will be succeeded by Isaac Lee, who has previously served as chairman of the division and will now assume the additional responsibility of Chief Executive Officer (CEO).
As part of his exit agreement, Braun will continue to serve on HYBE’s board of directors and act as a senior advisor to HYBE CEO Bang Si-Hyuk. This arrangement enables Braun to maintain an active role within the company while pursuing new ventures outside of HYBE.
Braun first joined HYBE in 2021 when the South Korean company acquired his Ithaca Holdings, which owned Big Machine Label Group and Quality Control Music among other assets. He subsequently took on a co-CEO role with Lenzo Yoon before becoming the sole CEO in January 2023.
During his tenure as CEO of HYBE America, Braun oversaw significant growth for the company, including the acquisition of Quality Control Music for $300 million in 2023. He will continue to have input on key projects such as KATSEYE and Alan’s Universe, while also contributing to board-level decisions and assisting in the transition to Lee as CEO.
In a statement, Bang Si-Hyuk praised Braun’s efforts, describing him as “an extraordinary partner, a visionary executive, and a true catalyst for cultural exchange.” Braun himself expressed gratitude towards HYBE chairman Bang Si-Hyuk, stating that being part of the company has been an inspiring chapter in his professional journey.
Braun will now dedicate his time to exploring new ventures outside of HYBE America, which is expected to result in exciting developments.
Source: www.billboard.com
