Mobile operator Turkcell is facing calls from regulator CMB to respond to alleged impartiality violations facing its chairman, Colin Williams.
TeliaSonera, which has a 38% share in Turkcell, has accused Williams of blocking attempts to increase the…
Mobile operator Turkcell is facing calls from regulator CMB to respond to alleged impartiality violations facing its chairman, Colin Williams.
TeliaSonera, which has a 38% share in Turkcell, has accused Williams of blocking attempts to increase the number of its independent board members.
However, Turkcell insists it has yet to receive any official information regarding this, and is therefore unable to comment.
Williams emailed journalists strongly denying the claims and saying he intends to contest the allegations.
According to a statement released by TeliaSonera on 24 March, Williams, the only independent member of Turkcell’s Board, has also acted against the law by failing to hold an AGM on the issue.
A TeliaSonera spokesperson stated: “Following the law is a minimum requirement for a chairman of a major listed international company. We also believe that issues regarding corporate governance should be openly discussed and decided by all shareholders at the AGM and not be blocked behind closed doors by a minority of the Board.
“We take the fact that Colin Williams has been blocking certain vital corporate governance issues as evidence that he is not acting as an independent member and impartial chairman of the Board of Turkcell. He should therefore be removed from his duties, in order not to cause the company and its shareholders any further damage.” CMB did not respond to requests for comment before the press deadline.
