Scooter Braun is transitioning out of his role as CEO of HYBE America and will become an executive advisor as a director of the board and senior advisor to HYBE chairman/CEO Bang Si-Hyuk, the company announced today (July 1). In addition, Braun will be pursuing new ventures outside of HYBE while still being involved with the company.
Braun, who is still HYBE’s second-largest individual shareholder, first joined HYBE in 2021, when the South Korean company purchased his Ithaca Holdings. He then served as co-CEO of HYBE America alongside Lenzo Yoon until January 2023, when he became sole CEO; a source tells Billboard Braun’s transition serves as the conclusion of his initial contract with HYBE. Succeeding him as CEO of HYBE America will be Isaac Lee, who had previously been chairman of the division and will add the chief executive title to his remit.
“Scooter has been an extraordinary partner, a visionary executive, and a true catalyst for cultural exchange,” Bang Si-Hyuk said in a statement. “His contributions have been vital in establishing our ambitious presence in the U.S. market. I am deeply grateful for his leadership, his astute instincts and his unwavering passion for artists. We wish him immense success in his exciting next chapter and look forward to continuing our partnership in executing HYBE’s global vision.”
As HYBE America CEO, Braun oversaw Big Machine Label Group — which he had initially purchased through Ithaca Holdings for $300 million in 2019 — and Quality Control Music, which HYBE acquired for $300 million in 2023, among other interests. He will continue to have input on several HYBE projects, including KATSEYE and Alan’s Universe, as well as board-level decisions and helping the transition to Lee as CEO. His next move, while currently unknown, is said to “reflect his expansive cross-industry vision and proven ability to cultivate culture at scale while continuing a focus on his philanthropic efforts,” according to a press release.
“Being a part of HYBE and witnessing its remarkable growth has been one of the most inspiring chapters of my professional journey,” Braun said in a statement. “Chairman Bang is a true visionary and a musical genius. What he has built with HYBE is unparalleled. I am incredibly proud of our collective accomplishments and look forward to supporting Chairman Bang and CEO Jason Jaesang Lee in their continued success as I step into what’s next.”