Yapı Kredi CEO Açıkalın to resign from post on Dec 29

ISTANBUL

Turkey’s Yapı Kredi Bank has announced its chief executive officer, Faik Açıkalın, will willingly retire from his position on Dec. 29 and applied to Turkey’s banking watchdog to appoint Gökhan Erün as the new CEO.

In a statement on Dec. 27, the bank said it sent an application to the Banking Regulatory and Supervision Agency (BDDK) to appoint Erün as the new chief as of Jan. 15, 2018.

The appointment shall become effective unless the BDDK objects within seven working days, according to the bank statement.

Erün was deputy CEO of Turkey’s Garanti Bank.

Niccolo Ubertalli, Yapı Kredi’s executive director and deputy CEO, is commissioned to be the acting CEO until the new CEO starts serving, read the statement.

Yapı Kredi’s 81.8 percent stake is owned by Koç Finansal Hizmetler A.Ş. Koç Finansal Hizmetler A.Ş. is an equal share (50 percent / 50 percent) partnership between Italy’s UniCredit and Turkey’s Koç Holding. The remaining 18.2 percent is open to the public.

The bank’s publicly traded shares are traded on Borsa Istanbul, and Global Depository Receipts representing these shares are quoted on the London Stock Exchange.