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Turkcell CEO Resigns
Published on:
Turkey's Turkcell has announced that the CEO of the Company, Muzaffer Akpinar has resigned from his CEO position. With regard to the Company's international operations, he will continue with his board membership duties, which are related to the investments in Ukraine, and at Fintur Holdings, as well as at the GSMA Association. The Company's Board of Directors shall appoint the new CEO at the next Board Meeting.
No reason for the resignation was given, although there has been tension between the CEO and Cukurova Holding, which owns just over 27% of the company for several months. This stems from a move by Cukurova to sack several managers without the CEO's permission. There has also been tension between the shareholders, TeliaSonera, Cukurova and Russia's Altimo who are battling for control of the company.
Last month, during the General Assembly of Turkcell Iletisim, TeliaSonera voted for the election of the TeliaSonera and Cukurova nominees but objected to the election of the other three board members basically due to lack of proven independence. TeliaSonera said at the time that it will continue to take all the necessary steps to ensure the application of good corporate governance principles in Turkcell and to protect TeliaSonera's legal rights.
Turkcell has also confirmed that it will be bidding for the third GSM license in Arab Republic of Egypt."
Tags: [teliasonera] [turkcell] [gsm license] [cukurova] [gsma] [altimo]
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