Hybe has appointed its current Chief Strategy Officer Lee Jae-sang to be the new CEO, the company said Wednesday.

According to the K-pop powerhouse, Lee's appointment is to be finalized following approval at the upcoming shareholders and board of directors meetings.

Lee has been selected to lead the forthcoming "Hybe 2.0" strategy, with a leadership transition project underway since the beginning of the year.

Lee graduated from Yonsei University and previously worked at global management consulting firm Monitor Group, Hyundai Motor and Google, before joining Big Hit Entertainment, Hybe's predecessor, in 2018.

Lee has held several key positions, including chief innovation growth officer for Big Hit Entertainment, CSO of Hybe and both chief operating officer and CEO of Hybe America.

He has played a central role in Hybe's business strategy and investment activities. Lee was instrumental in designing and implementing Hybe's three-pronged business strategy structure known as, "Label, Solution, Platform." He also led major mergers and acquisitions with prominent domestic labels and tech companies. He spearheaded Hybe's initial public offering in October 2020.

"Lee Jae-sang is an expert in the entertainment industry with extensive experience in both domestic and international business strategy and operations. We expect him to contribute significantly to Hybe's growth as a sophisticated entertainment lifestyle platform company based on music and technology," Hybe said in a statement.

Outgoing CEO Park Ji-won, who led Hybe for three years, will continue to contribute to the company's growth strategy by leveraging his expertise and network in the convergence of the entertainment industry and technology, according to Hybe.