Turkcell this week named a new chief executive and looks set to approve the payment of dividends for the first time in five years.
The Turkish mobile operator on Wednesday announced that Kaan Terzioglu will become CEO of the company on 1 April, replacing former chief executive Sureyya Ciliv, who resigned in January.
Chief technology officer Ilker Kuruoz has served as acting CEO of Turkcell for the past couple of months.
Terzioglu has a background in accountancy, having started his career at Arthur Andersen, and most recently worked for Cisco, holding various roles between 1999 and 2012, Turkcell said.
The mobile operator also announced that at a board meeting on Thursday its directors will discuss a proposal to pay 3.93 billion lira (€1.39 billion) in dividends for the 2010-2014 financial years.
The announcement comes after major shareholder TeliaSonera announced that it has reached agreement with its fellow shareholders over the payment of dividends.
The shareholders, which also include Russia’s A lfa Group and Turkish conglomerate Cukurova Holding, have been at loggerheads over this and other issues linked to Turkcell, thus the agreement can be seen as a step forward for the telco.
TeliaSonera said it will receive TRY1.49 billion (€527 million) in dividends, in line with its 38% direct and indirect holding in Turkcell.
