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Turkish carmaker Tofas appoints new CEO

Author Yurkie Ali
Turkish carmaker Tofas appoints new CEO anuphadit/Shutterstock.com

ISTANBUL (Turkey), January 14 (SeeNews) – Turkish car-maker Tofas Turk Otomobil Fabrikasi [BIST:TOASO] said it has decided to name Cengiz Eroglu as chief executive officer (CEO) and member of the company's board in effect from January 14.

Eroglu will replace Kamil Basaran, who resigned on January 13, the company said in a bourse filing on Tuesday.

Tofas is a joint venture between Fiat and Koc Holding. The company’s factory is one of three worldwide strategic manufacturing centres of Fiat Auto, according to Tofas. The plant has an annual production capacity of 400,000 units of passenger cars and light commercial vehicles. In 2013, the factory produced 240,000 units.

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