ISTANBUL, May 20, 2022 /PRNewswire/ — D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQ: HEPS), a leading Turkish e-commerce platform, announces the resignation of Mr. Erol Çamur and Mr. Halil Korhan Öz, Financial Director of Hepsiburada, of its Board of Directors and the appointment of Dr. Halil Cem Karakaş and Mr. Ahmet Fadıl Ashaboğlu as of May 20, 2022. Mr. Halil Korhan Öz served on the audit committee of the board of directors.
The resignation of Mr. Erol Çamur and his replacement by an independent director were anticipated at the time of the IPO of Hepsiburada and neither the resignation of Mr. Erol Çamur nor the resignation of Mr. Halil Korhan Öz was the result of any disagreement with Hepsiburada. Hepsiburada and its Board of Directors express their gratitude to Mr. Erol Çamur and Mr. Halil Korhan Öz for their many contributions to the Board of Directors and its committees and their service to Hepsiburada. Mr. Halil Korhan Öz will continue to serve as the company’s chief financial officer.
Dr. Karakaş and Mr. Ashaboğlu were nominated by the company’s Corporate Governance Committee to its Board of Directors as independent board members. The appointments of Dr. Karakaş and Mr. Ashaboğlu will then be submitted for approval by Hepsiburada shareholders at the Company’s first Annual General Meeting.
The Hepsiburada Board of Directors has determined that, following the resignations of Mr. Erol Çamur and Mr. Halil Korhan Öz and the appointment of Dr. Karakaş and Mr. Ashaboğlu, four of its nine members are independent members who meet the “independence” requirements set forth in Rule 10A-3 under the Securities Exchange Act of 1934, such as amended, and the Nasdaq listing rules.
Dr. Cem Karakaş, 47, is an industrial restructuring leader in the global snack food industry. He has led large-scale restructuring and growth programs in the biscuit and chocolate industries, building and streamlining several dozen manufacturing plants around the world, as well as omnichannel market entry programs. The latest, Dr. Karakaş was the founding CEO of Pladis, Europe’s largest biscuit player and one of the largest snacking companies in the world. Prior to that, Dr. Karakaş served as CEO and CFO of Yıldız Group and Erdemir Group of Turkey. Dr. Karakaş is the Executive Chairman of Aran Ard Teoranta and Rudi’s Organic, the fastest growing European and North American food-free bakery players. Dr. Karakaş holds a bachelor’s degree in management from middle east technical universityMaster of Business Administration in Finance Massachusetts Institute of Technology and a doctorate in finance from Istanbul University.
Mr. Ahmet Ashaboğlu, 51, holds a BSc from Tufts University and a Master of Science from Massachusetts Institute of Technology (MIT), both in mechanical engineering. He began his career as a research assistant at MIT in 1994, then various positions in capital markets at UBS Warburg, New York (1996-1999). After having been a management consultant at McKinsey & Company, New York (1999-2003), Ahmet Ashaboğlu returned to Turkey and joined Koç Holding as Group Finance Coordinator in 2003. He was appointed Group Finance Director at Koç Holding in 2006 and held this position until April 2022. Ahmet Ashaboğlu is currently a board member of Mavi, Yapı Kredi Bank, Koç Financial Services, Koç Finansman and Mermaid Navy.
As part of their appointment to the board, Dr. Cem Karakaş and Mr. Ahmet Ashaboğlu will each receive compensation as independent directors for their attendance at board meetings and, if applicable, additional fees for their services. as a committee member or committee chair in accordance with Hepsiburada’s Director Remuneration Policy.
Hepsiburada is a leading e-commerce technology platform in Turkey, combining a globally proven e-commerce business model with a unique “super app” to meet the daily needs of our customers and help improve people’s daily lives. Customers can access a wide range of products and services, including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through our integrated digital wallet , Hepsipay. As at the end of December 2021we had seamlessly connected 41.8 million members and 75,000 active merchants.
Founded in Istanbul in 2000, Hepsiburada was built to lead the digitization of commerce in Turkey. As a women-founded organization, we are committed to taking meaningful action to empower women. Through our Technology Empowerment for Women Entrepreneurs program, we have reached approximately 29,000 women entrepreneurs across Turkey nowadays.
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