SM Entertainment appoints Tak Young-jun as co-CEO alongside Jang Cheol-hyuk, marking a strategic shift to a dual leadership structure.
At SM Entertainment’s 29th regular shareholders’ meeting and board meeting, the company announced that Tak Young-jun, who previously served as COO (Chief Operating Officer), has been appointed as the co-CEO.
This has resulted in the company shifting to a co-CEO system, with Jang Cheol-hyuk and Tak Young-jun now serving as co-CEOs.
During the shareholders’ meeting, various agendas were proposed and passed, including the appointment of Tak Young-jun as an internal director, approval of the 29th financial statements, approval of director compensation limits, and auditor compensation limits, which were all passed as planned.
SM stated that Tak was recognized for his outstanding capabilities.
These include successfully overseeing the launch of last year’s top rookie RIIZE, leading the production and management of leading K-pop artists, developing new talent, and supervising performances and other IP business activities.
Additionally, after the 29th financial statements were approved, SM distributed a dividend of 1,200 won per common share, which is the same as the previous year, with a total dividend amount of $20 million. Last year, SM recorded consolidated sales of $712 million and operating profits of $84 million.
Co-CEO Tak Young-jun stated, “We will improve SM’s business competitiveness and contribute to the growth of the K-pop industry as a global entertainment company.”
