New Turkcell CEO reassures confidence in shares

New Turkcell CEO reassures confidence in shares

New Turkcell CEO reassures confidence in shares

Murat Erkan, the acting CEO of Turkey’s largest mobile operator Turkcell Iletisim Hizmetleri, purchased total of 38,000 Turkcell shares at the price of 13.54 Turkish Liras (around $2.5) on March 18, the company said in a statement.

With this transaction, the total number of shares owned by Erkan has reached 60,000 with a market value of 798,600 liras.

Erkan has more than 20 years of experience in the telecom industry and has been with Turkcell for more than a decade.

He had previously served as the CEO of fiber and fixed business Superonline and played a key role in Turkey’s fiber infrastructure investments.

Erkan has served for more than three years in his final role as the executive vice president of sales of Turkcell.

He took an active role during the digital transformation of Turkcell, initiating and completing the digitization process of Turkcell’s entire sales channel.

Erkan replaced Kaan Terzioğlu who became the chief executive of Turkcell in 2015 and stepped down on March 15.

Shares in Turkcell were 0.53 percent higher as of 3 p.m. local time yesterday, with the company’s market capitalization standing at $5.33 billion.