Big Hit Entertainment has announced a new leadership structure. Bang Si-Hyuk has been appointed to Chairman/CEO, where he will take the lead of the company's core business decisions, while continuing to oversee music production and overall creative across Big Hit's labels.

Previously overseeing Big Hit's business sector, Lenzo Yoon has been appointed Global CEO. He will be responsible for the development and expansion into global markets, particularly North America and Japan. Yoon will be based in the U.S. and will oversee the newly-founded Big Hit America.

Jiwon Park joins Big Hit amid the management re-structure as HQ CEO. He will take the helms of the company’s domestic organization.

According to Big Hit, the company "has completed a systematic process of preparing for the ‘entertainment industry innovation’ it has been pursuing," and further added that "Big Hit will continuously innovate and grow the global entertainment industry by applying its success formula based on a more efficient and stable management structure under the new leadership."

Pictured above (L-R): Chairman/CEO Bang Si-Hyuk, Global CEO Lenzo Yoon and HQ CEO Jiwon Park.