Leading Turkish telecommunications company Turkcell Iletisim Hizmetleri AS is considering former Deputy Finance Minister Bulent Aksu as its new chief executive officer, according to people with knowledge of the matter.
(Bloomberg) — Leading Turkish telecommunications company Turkcell Iletisim Hizmetleri AS is considering former Deputy Finance Minister Bulent Aksu as its new chief executive officer, according to people with knowledge of the matter.
Turkcell holds a general assembly meeting on Wednesday, following the resignation of CEO Murat Erkan on Monday. Aksu is currently chairman of the board of directors at Turkcell, a role he’s held since March 2020.
Turkcell declined to comment.
Erkan’s resignation “will put a focus on pricing strategy as his pivot to lead the mobile market with tariff hikes has been instrumental in improving resilience to a high-inflation environment,” said Bloomberg Intelligence analyst Erhan Gurses. “The state, as the largest shareholder and majority board representation, has the say on CEO selection.”
Turkey’s Sovereign Wealth Fund is the biggest shareholder in Turkcell, with a 26.2% stake. That’s followed by Imtis Holdings S.A.R.L, a unit of Russian billionaire Mikhail Fridman’s LetterOne Holdings SA.
Turkcell shares have gained 61% this year, outperforming the benchmark Borsa Istanbul 100 index, which is up 49%, the best performance among major markets worldwide, behind Argentina.
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