Scooter Braun is no longer CEO of HYBE America.
Insiders told Variety that he’s preparing himself for his next venture, which is not yet known.
Braun is now moving into an executive advisory role, which will see him stay on as director of HYBE’s board of directors and senior advisor to HYBE’s CEO and chairman. Isaac Lee will step in as CEO.
“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.”
Under Braun’s guidance as CEO, HYBE reportedly acquired Quality Control for $320 million, inked a distribution deal with Jermaine Dupri’s So So Def label, and sold Big Machine Label Group’s rock division for an undisclosed amount.
Braun joined HYBE in April 2021, when his company, Ithaca Holdings, merged with the entertainment and media company. HYBE subsequently had a 100 percent stake in Ithaca, including SB Projects, Braun’s management clients, which included Justin Bieber, Ariana Grande, and Demi Lovato at the time, and Big Machine. Braun later became CEO in January 2023.
Braun’s reputation took a hit when he and Taylor Swift began feuding after he obtained Big Machine in 2018 and the rights to her first six albums. In May, Swift regained full control of her masters.
Braun was again brought down a peg when he and Bieber parted ways due to a financial disagreement, with Bieber now owing Braun a reported $9 million. Last June, Braun revealed that he was stepping down from artist management after 23 years.
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