TMSF Solidifies Control of Tekfen Holding with Leadership and Board Changes
Istanbul, Turkey - October 10, 2025 – Turkey’s Savings Deposit Insurance Fund (SDIF), or TMSF, has considerably strengthened its control over Tekfen Holding following a series of appointments and resignations triggered by the acquisition of founding shares by Can Holding. The changes mark a considerable shift in the company’s structure after Can Holding became the largest partner with a 42.8 percent share.
hakan Sadık Göral resigned as President of Tekfen Holding Group Companies and from all board memberships within the Tekfen Group, effective immediately.Namık Ülke, recommended by the SDIF Fund Board on October 9, 2025 (decision 2025/542), has been appointed as the new President. Ülke brings over two decades of banking experience, having previously held leadership positions at Türk Ekonomi Bankası, Odeabank, Parafinans Faktoring, and Anadolubank, following his start as an inspector at akbank in 1993. He is a 1991 graduate of Marmara University’s Faculty of Economics and Administrative Sciences,Department of Economics.
Alongside the CEO change, Uğur Bayar and Bayram Saral have resigned from the Board of Directors. taner Yalçın and Erdem Şair were recommended by the SDIF Fund Board (decision 2025/544) to fill the resulting vacancies and appointed to serve until the next general assembly meeting, subject to shareholder approval.
The appointments bring the total number of SDIF representatives on the nine-person Tekfen Board of Directors to five, including current member Nevzat Avunç, who previously joined the board on behalf of TMSF representing 17.56 percent of the shares. Two members of the Can family remain on the board as SDIF representatives, though they are currently unable to resign or be dismissed due to existing legal regulations.
These changes follow a general assembly meeting held on May 7, 2025, where Kemal Can and Mehmet Şakir can were elected to the Board alongside Mehmet Nazmi Ertem, Uğur Bayar, Özgün Öztunç, and Bayram Saral. Hamit Sedat Eratalar, Ayşe Selen kocabaş, and Çağrı Balcıoğlu were also elected as autonomous board members. Notably,no representatives from ARY Holding were able to join the board at that time due to ongoing legal issues. Özgün Öztunç subsequently resigned from the board following the commencement of the Can Group examination.
