DİHA - Dicle News Agency


Three Borsa Istanbul managers leave their posts

7 May
16:24 2014

ISTANBUL (DİHA) - Two deputy chairmen and a unit head in Turkey’s main stock exchange Borsa Istanbul (BIST) have left their offices amid a major reshuffle that is shaking the ranks of nearly every state-linked institution.

BIST Deputy Chairman Ali Çöplü and Mustafa Balcı announced their resignations from their post “as part of new organization restructuring in the stock exchange,” according BIST officials. Officials said organizational restructuring had been continuing within BIST for some time and the departure of managers are part of this process. “As part of this [restructuring], some main business branches’ merging came to the agenda. As a result of these merges, two deputy chairman positions have been lifted because the main units under their authority have been merged as well,” officials claimed.

BIST Research Unit Director Orhan Erdem also reportedly left his office as part of the merge of his unit with the Business Development Directorate. A BIST official told Reuters Baltacı and Çöplü’s removal was decided in the last board meeting on May 2. It has not been made clear whether the dismissals were linked to a series of purges at other state institutions over the recent weeks after a high-level corruption scandal broke late last year.