Scooter Braun is transitioning his role at HYBE, the South Korean entertainment giant, moving from CEO of HYBE America to an advisory position which will have him joining the HYBE Board of Directors as a director and a senior advisor to chairman and CEO Bang Si-Hyuk. The move marks the end of a five-year run at HYBE, which is home to such K-pop acts as BTS and Katseye.

The news was announced to HYBE staffers on Monday when Braun, dialing in from David Geffens yacht where he is vacationing, notified employees that the move was in the works for quite some time, according to a source who adds that the five-year plan was initiated with the sale of Brauns Ithaca Holdings to HYBE in 2021. Braun will remain active in current HYBE projects, like the just-launched girl group Katseye. Braun intimated that he isnt going anywhere and will still help guide the artists on the HYBE roster. During the call, Braun shared with the staff that, when he set out for a career in music 25 years ago, it was after reading the Geffen biography The Operator. Today, as he closes this chapter of his career, he reminded his colleagues of what hes learned from Geffen: Follow your dreams and anything can happen. Braun built his business managing music artists like Justin Bieber, Ariana Grande, J Balvin, Demi Lovato and The Kid LAROI under the SB Projects banner. In 2024, he stepped away from the management business, announcing his decision on social media, where he noted, I have been blessed to have had a Forrest Gump-like life while witnessing and taking part in the journeys of some of the most extraordinarily talented people the world has ever seen. Im constantly pinching myself and asking how did I get here?

The exit from management coincided with a split from Bieber which turned contemptuous, as THR reported in April, due to financial consequences triggered by the cancelation of Biebers Justice tour in 2022. In not fulfilling his contractual obligation to AEG (the tours promoter) and completing the concert dates, for which he received a $40 million advance, Bieber was left owing more than $20 million to AEG. Then-manager Braun, through his company, covered what was owed in the form of a loan at a highly favorable (to Bieber) rate. In addition, the two were partnered in a number of other businesses including a record label and film projects. Braun also helped secure a $200 million catalog deal for Biebers songwriting interests, possibly the largest nest egg in music history for an artist under 30. (Worth noting: Hailey Bieber, who married Justin in 2018, recently sold her Rhode Beauty skincare brand to e.l.f. Beauty for $1 billion; Braun was a seed investor.)

THR has learned that a settlement between Braun and Bieber is now completed. Scooter and Justin squashed their issues and are in a good place, says a source who adds that Brauns last act at HYBE was to close the book on the squabble and leave the company, and Justin, in a good position.

Reps for Bieber declined to comment on the settlement.

Stepping into the CEO position in Brauns place and leading all day-to-day duties is Isaac Lee, who has been chairman of HYBE Latin America since November of 2023. Lees new title is chairman and CEO of HYBE Americas. In addition to running HYBEs operations in Mexico, Miami, and Medellin, Lee will also have oversight of Nashville-based Big Machine Label Group (BMLG) and Quality Control Media Holdings, headquartered in Atlanta.

While Brauns 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. 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 HYBEs global vision.

Braun also remains one of HYBEs largest individual shareholders. In announcing his new role, Braun said: Being a part of HYBE and witnessing its remarkable growth has been one of the most inspiring chapters of my professional journey. 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 whats next.