Koç Holding names Ömer Koç new chairman until next general meeting

ISTANBUL

Ömer Koç, the vice president of the executive board at Koç Holding, has been named the new chairman of the conglomerate, more than a month after the passing of his brother Mustafa Koç from a sudden heart attack. 

“Our board of directors has decided to choose vice president of the executive board Ömer Koç as the chairman and our board member Ali Koç as the vice president of the executive board until the first general meeting is held,” Koç Holding said in a statement on Feb. 22.

The death of Mustafa Koç, the former chairman of Turkey’s largest conglomerate who suffered a fatal heart attack on Jan. 21, came as a shock across the country and among global investors.

Ömer Koç received his B.A. degree from Columbia University in 1985. After completing his MBA at Columbia University in 1989, he worked at Ramerica International Inc. He joined Koç Holding in 1990 and has held various senior positions including finance coordinator, vice president and president of the holding’s energy group, according to his bio on the company website. He has been a member of Koç Holding board of directors since 2004 and vice chairman since May 2008. 

Koç Holding has been the only Turkish business group on the Fortune 500 Global List. According to the latest data from the Istanbul Chamber of Industry (İSO), five of Turkey’s 10 largest industry companies are Koç companies. Koç Holding owns Turkey’s oil refinery, Tüpraş, two major automotive producers in metal, Tofaş and Ford Otosan, home appliance maker Arçelik and LPG for cars and bottled gas retailer Aygaz on the İSO’s latest annual list. The group also owns Yapı Kredi Bank, fuel distribution company Opet and defense maker Otokar, among others.