HYBE founder and Chairman Bang Si-hyuk and three other executives at the company have been referred to prosecutors in an investigation of alleged “unfair trading” in connection with the company’s IPO.

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Braun will also keep his spot in Hybe’s board of directors and serve as senior adviser to Bang Si-Hyuk, Hybe's chairman, Variety reported.

What he has built with HYBE is unparalleled," he stated. Braun continued, stating that he looks forward to supporting Hybe Chairman Bang Si-Hyuk and Hybe CEO Jason Jaesang Lee.

Summary Scooter Braun has officially resigned as CEO of HYBE America to pursue new ventures, transitioning into an executive advisory role Despite stepping down as CEO, Braun will remain a ...

Scooter Braun will step down from his role as CEO of HYBE America and will move into a consulting role.

Braun will stick around in an executive advisory capacity, serving as director of the board and senior advisor to HYBE chairman/CEO Bang Si-Hyuk.

While Braun’s next move is unclear, HYBE chief Bang Si-Hyuk commented, “Scooter has been an extraordinary partner, a visionary executive, and a true catalyst for cultural exchange.

The executive will transition to the role of senior advisor to HYBE's chairman and CEO Bang Si-Hyuk and will remain on the board of directors.

Music mogul Scooter Braun is transitioning his HYBE role and also has settled financial issues with former client Justin Bieber; insider says they're in a good place.