Marti Technologies names new CFO to bolster growth

ISTANBUL - Marti Technologies, Inc. (NYSE American: MRT), a leading mobility service provider in Türkiye with a market capitalization of $237.12 million, has announced the appointment of Cenk Özeker as its new Chief Financial Officer, effective last Saturday. Özeker steps into the role following the tenure of interim CFO Deniz Terlemez. The appointment comes as the company’s stock has shown significant momentum, gaining nearly 58% over the past six months.

With a career spanning over 25 years, Özeker brings extensive experience in senior finance and operational leadership to Marti. His background includes managing director positions across Europe and Türkiye at companies of varied scales. Özeker’s most recent post was Managing Director at Newport Shipping UK, where he led a team of around 200 employees from 2021 to 2024. His prior roles include Managing Director of Icron Software in Amsterdam and senior positions at Pepsi, Beymen, H.O. Sabancı Holding, and Unilever. According to InvestingPro data, Özeker joins at a crucial time as the company faces challenges with profitability and gross margins.

Oguz Alper Oktem, CEO of Marti, highlighted Özeker’s international expertise and his track record with both established and emerging firms as critical to the company’s growth strategy. Oktem also acknowledged the contributions of Terlemez, who provided stable leadership during a period of transition for the finance department.

In his statement, Özeker expressed enthusiasm about joining Marti and contributing to its expansion and operational excellence, while focusing on shareholder value.

Founded in 2018, Marti has become Türkiye’s prominent mobility app, offering a range of transportation services through its ride-hailing service and a fleet of rental e-mopeds, e-bikes, and e-scooters, all powered by proprietary software and IoT infrastructure. InvestingPro analysis reveals over 10 key investment tips for Marti, including insights on growth prospects and financial health metrics.

This leadership change comes as Marti aims to enter a new phase of expansion, leveraging Özeker’s experience in spearheading growth and profitability in both public and private sectors. Analyst consensus suggests optimism, with price targets ranging from $3 to $7 per share, though the company’s overall financial health score remains weak according to InvestingPro metrics. The company’s forward-looking statements indicate a positive outlook on future performance, although they are subject to various risks and uncertainties.

The information for this article is based on a press release statement from Marti Technologies, Inc.

In other recent news, Marti Technologies has been the focus of multiple analyst reports and company announcements. Roth/MKM initiated coverage on Marti Technologies with a Buy rating, setting a price target of $5.75 per share, citing the company’s unique market position and potential growth catalysts. Litchfield Hills Research also expressed a positive outlook, assigning a Buy rating with a higher price target of $7.00, based on the company’s growth rate compared to its peers. Marti Technologies has also surpassed its rider and driver targets, reaching 1.91 million riders and 290,000 registered drivers as of late March 2025. The company aims to further increase these numbers by June 2025.

Additionally, Marti Technologies announced an extension of its share repurchase program, allowing the buyback of up to $2.5 million of its Class A ordinary shares at a ceiling price of $6.00 per share until October 2025. This move reflects the company’s strategic priorities and market conditions. Marti’s expansion in the ride-hailing sector is supported by its comprehensive suite of transportation services and proprietary technology. These developments suggest a focus on growth and shareholder value, although they are subject to various risks and uncertainties.

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