ISTANBUL — Haluk Dincer has become the new chairman of Turkey's leading business association TUSIAD after his predecessor resigned from the post last week.

Dincer, formerly vice chairman, was elected for the top post during Tuesday's extraordinary executive meeting, a statement from TUSIAD said.

Muharrem Yilmaz, former chairman of the association, announced his resignation Wednesday at a press conference in Istanbul amid ongoing tension between his dairy products company and its workers.

Founded in 1971, Turkish Industry and Business Association is Turkey's top business association and is an independent, non-governmental organization dedicated to promoting public welfare through private enterprise.