OK Mobility names Monclús CEO after €300m refinancing

OK Mobility puts Joaquim Monclús in charge of its business as chief executive, while founder Othman Ktiri stays on as executive chairman. In Madrid on 10 November, the company announced that its board had approved the appointment unanimously at its latest meeting. Monclús now oversees operations, commercial and corporate teams, results and the management committee.

Ktiri keeps the strategy

Ktiri remains responsible for long-term strategy, major company decisions and how the group allocates its money. He also handles relations with the board, investors and partners, including vehicle makers.

Monclús joined OK Mobility as finance director in 2018 and was most recently its corporate director. Ktiri says the company has grown to a size that calls for clearer responsibilities and a chief executive focused on running the business.

Loans and the next plan

The appointment follows a refinancing of about €300 million this year, backed by all the company’s banks. OK Mobility has also secured a further €130 million through a loan backed by assets and a convertible loan of up to €10 million from a family office.

Monclús takes charge as the company works on OK Forward, the strategy it presented in February. The plan calls for stronger company-run operations in major southern European markets, international growth through franchises, a leaner organisation and faster digital change.

Topics: Economy

Source: Europa Press / Mallorca.com