SM Entertainment and Lee Sooman to part ways

What?

That's only as a producer right? He's still the CEO?

Good riddance

Quote from keyboardwarrior7

That's only as a producer right? He's still the CEO?

He stepped down as a CEO long time ago

Emmm i think him stepping down is what lead some Sm acts to push their comebacks

Quote from nana18

He stepped down as a CEO long time ago

he stepped down superficially. He's still the largest shareholder and runs things from the background...just like the Yang bros at YG.

So the Kakao takeover is actually happening for real then?

Quote from 0ppar

he stepped down superficially. He's still the largest shareholder and runs things from the background...just like the Yang bros at YG.

Yeah i know but legally he's not the CEO just like how Jyp is no longer the CEO of JYPe yet he's still the one taking the big decisions

Quote from bartkun

Lee Sooman asked to terminate contract between his private company and SM

https://www.allkpop.com/articl…contract-with-lee-soo-man

I am reading that Lee Soo Man has/had issues with tax evasion and shareholders weren't receiving their shares of the profit. SM was pocketing more money to himself.

So, Shareholders request the board reshuffling and pushing him out. They also trying to re-organize SM from within and that led to artists' comeback schedules being changed as well.

Soo Man might still remain has a shareholder.

probably cj enm or kakao will buy his shares soon

interesting

Quote from selfmate

interesting

you're running away from your tax again aren't you

Quote from autumnleaf_soshi

you're running away from your tax again aren't you

that was last time

this time I'm running away from SM!!!

Quote from selfmate

that was last time

this time I'm running away from SM!!!

you built the damn place wtf you running away from your own creation for?

Quote from autumnleaf_soshi

you built the damn place wtf you running away from your own creation for?

mutineers!!!

Thread

It's Changmin and Minho who plotted a coup d'etat against Lee Soo Man

Right after Changmin and Minho had a special dinner with SM ceo and senior art director, they announced plan to push LSM out.

Heechul did say LSM was scared of them
twitter.com/Chois_Hope/status/…npZ3iYYt3Lw8v5ZaqpBw&s=19

Lulu_Key

Sep 15th 2022