Mr.Sakıp Sabancı, the Chairman of the Sabancı Holding Board, announced the resignation of Chief Executive Officer, Mr. Hazım Kantarcı from Chief Executive Officership and Sabancı Holding Board Membership duties as of April 11, 2003 and appointment of Dr. Celal Metin as the new Chief Executive Officer of the Sabancı Holding effective April 14, 2003.

In his announcement Mr.Sakıp Sabancı said;
“Mr.Hazım Kantarcı has served diligently in our Group since 1970 starting as an industrial engineer at Bossa, the Sabancı Textile operations. He quickly joined the Sabancı top management team and served as Kordsa Assistant General Manager (1975-1980), Sabancı Tyre Cord Operations; General Manager of Lisa (1980-1985), Sabancı Tyre Marketing Co.; of Lassa (1985-1988) Sabancı Tyre Manufacturing and Trading Co.; of Brisa (1988-1996) Sabancı-Bridgestone Tyre Manufacturing and Trading Co.; of Toyotasa (1996-2000) Toyota-Sabancı Automotive Co. and Chief Executive Officer of Sabancı Holding since 2000. He was a member of the Sabancı Holding Board since 1996.

We appreciate and thank him for his valuable contributions for the successful growth and development of our Group.

Dr. Metin, after receiving his Phd in Chemical Engineering, joined Sabancı Group in , 1975 and worked successfully till 1988. During this period he held various posts at Lassa and served as General Manager of Lisa, Sabancı Tyre Marketing Co. between 1985 and 1987. He was the General Manager of Beksa – Sabancı Bekaert Steel Card Co. during 1987 and 1988

Dr. Metin has spent the last 15 years as an international entrepreneur and senior executive founding and managing major business groups with operations in
Europe, North America and Asia.

He served as the Executive Director and CEO of PT Branta Mulia of Jakarta, Indonesia between 1990 and 2003 and held a number of other executive posts in various companies in Asia.

We welcome Dr. Celal Metin as new Chief Executive Officer of Sabancı Holding and believe that he will contribute for the further and healthy growth of our Group.”