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Turkey Coup Petkim appoints new CEO, media says predecessor detained in plot

A spokeswoman at the company, based in Aliaga, Turkey, confirmed Korkut's resignation but declined to comment on the reports of his detention.

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Turkey's Petkim appoints new CEO, media says predecessor detained in coup plot play

Turkey's Petkim appoints new CEO, media says predecessor detained in coup plot

(The Fiscal Times)

Turkey's biggest petrochemicals company Petkim said on Thursday its chief executive had resigned, and the state-run news agency said he had been detained in connection with a failed coup.

Petkim, owned by Azerbaijan's Socar, said in a stock-exchange filing that Anar Mammadov has become CEO after his predecessor, Saadettin Korkut, resigned.

A spokeswoman at the company, based in Aliaga, Turkey, confirmed Korkut's resignation but declined to comment on the reports of his detention. She also said about 25 Petkim employees have been suspended but did not elaborate.

State-run Anadolu Agency said Korkut was detained at his home in the city of Izmir late on Wednesday and his offices at Petkim were raided.

The detention is believed to be related to the investigation of a failed plot to to overthrow President Tayyip Erdogan, Anadolu said, but did not elaborate further. A faction of the military on July 15 attempted to intervene, and at least 246 people were killed and 2,000 wounded in the violence.

Authorities have detained journalists, academics and businessmen in a crackdown that has included the dismissals or detentions of more than 60,000 public-sector employees.

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