Turkcell CEO to stand down on Jan 31

Turkcell CEO to stand down on Jan 31

Turkcell CEO to stand down on Jan 31

Süreyya Ciliv

Turkey’s biggest mobile operator Turkcell has announced that company CEO Süreyya Ciliv has decided to resign from his position, effective from Jan. 31, in a written statement to the Public Disclosure Platform late on Jan. 28.

The company said its Board of Directors had decided that Turkcell Chief Technology Group Officer İlker Kuruöz, in addition to his current position, would serve as its acting CEO. The appointment process of a permanent new CEO has been initiated.

Ciliv said that he was happy with resigning from the position and he would focus on investing new projects at a live interview yesterday on Bloomberg HT.

“We have always worked to create value for our customers, our stakeholders, the industry and our nation by facilitating access to knowledge with our technology, innovation and a strong team spirit. I would like to thank all of my team, our customers, our dealers, our suppliers, and our business partners who believed in and accompanied us on this journey. As I hand over my role, I truly believe that this strong team will take Turkcell forward,” the departing Ciliv said.

A row between Turkey’s Çukurova, Russia’s Altimo and Nordic telecoms giant Telia Sonera has hampered Turkcell’s development for years, as it was unable to agree on the make-up of its board and was also unable to pay dividends.

Çukurova Holding said it had paid Russia’s Alfa Group $1.6 billion to recover a disputed stake in Turkcell in August 2014, taking a major step toward regaining control of the company after a seven-year battle.

The Istanbul-based Çukurova signed a loan agreement with state-run lender Ziraat Bank in connection with the Alfa Group payment, the company said in a statement to the Public Disclosure Platform.
The Capital Markets Board (SPK) has been appointing Turkcell’s board members ever since it was unable to agree on the structure of its board or pay dividends.

Ahmet Akça, the head of the board of trustees of Bezm-i Alem University, was appointed as Turkcell’s management board chairman in 2013. Two former Turkish ministers are on the company’s board, appointed by the SPK, while Bekir Pakdemirli, the ruling Justice and Development Party’s (AKP) İzmir deputy provincial head and Mehmet Bostan, the chairman of the pension arm of state-run Vakıfbank, were also appointed as board members in 2013.