Timur Turlov Elected President of the International Chess Federation (FIDE)
Turlov's FIDE program includes a proposed increase in the federation's development fund to more than $6 million.
Rhea-AI Summary
Freedom Holding (FRHC) founder and CEO Timur Turlov was elected president of the International Chess Federation (FIDE) on September 26, 2026.
Turlov received 110 votes in the second round of the General Assembly election in Samarkand, compared with 85 for Wadim Rosenstein. Viswanathan Anand, who ran alongside Turlov, was elected deputy president. Turlov has led the Kazakhstan Chess Federation since 2023 and also heads the International School Chess Federation.
Turlov proposed increasing investment in FIDE to $7 million and personally guaranteeing those financial commitments. His program calls for upgraded digital tools, expanded chess education and more support for national federations.
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Key Figures
- Second-round votes
- 110 vs. 85 votes
- Turlov vs. Wadim Rosenstein
- Planned FIDE investment
- $7 million
- Turlov's stated plan; he said he would personally guarantee the commitments
- Proposed development fund
- More than $6 million
- Turlov's proposal for FIDE's development fund
Historical Context
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Freedom was named general partner for FIDE's 2026 World Championship, extending its multi-year cooperation.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAMARKAND, UZ / ACCESS Newswire / September 26, 2026 / Timur Turlov, founder and chief executive officer of Nasdaq-listed Freedom Holding Corp., has been elected president of the International Chess Federation (FIDE) following a vote by the organization's General Assembly in Samarkand.
Turlov received 110 votes in the second round of voting, while the other candidate, Wadim Rosenstein, received 85 votes. Jan-Henrik Büttner was eliminated from the race after the first round. The election took place on Saturday, September 26, in Samarkand.
Turlov ran on a ticket with five-time World Chess Champion Viswanathan Anand, who was elected FIDE deputy president.
At the time of the election, Turlov already had significant experience working with chess organizations. He has served as president of the Kazakhstan Chess Federation since 2023 and also serves as president of the International School Chess Federation (ISCF).
In his program for FIDE, Turlov proposed drawing on his experience in business and in leading and developing chess organizations to advance the federation's digital transformation, expand chess education, and strengthen support for national federations.
"To achieve truly large-scale results, we need to attract more resources and think strategically. I plan to increase the volume of investment in FIDE to
"At the same time, FIDE must not become a business. My long-term goal is to build a sustainable foundation for the development of chess worldwide and provide federations with opportunities for growth for years to come," Turlov said.
Digital Development and Support for Federations
One of the key priorities of Turlov's program is upgrading FIDE's digital infrastructure. His program calls for the creation of a unified digital platform and expanded access for national federations to modern digital tools.
During the presidential debates, Turlov also spoke about the need for further investment in anti-cheating solutions and advanced player verification and identification tools for competitive online chess.
Support for national federations is another major element of his program. During the September 9 debate, Turlov proposed increasing FIDE's development fund to more than
At the same time, Turlov has repeatedly emphasized the importance of FIDE's long-term financial sustainability and the development of new revenue streams to provide sustained support for the growth of chess.
Chess in Education
Another priority is expanding chess in schools.
Turlov heads the International School Chess Federation, which works to expand cooperation among chess organizations, schools, and national education systems.
Kazakhstan provides an example of how such programs can be implemented on a large scale. Today, chess programs are available in more than 1,500 schools across Kazakhstan, reaching around 60,000 children.
Turlov wants to build on that experience internationally, helping national federations bring chess to more children and develop stronger partnerships with schools and other educational institutions.
Kazakhstan's Experience and Next Steps
Turlov became president of the Kazakhstan Chess Federation in 2023. Since then, Kazakhstan has expanded chess programs for children and young players and has seen its players perform well internationally. A major highlight came at the 2024 Chess Olympiad, where Kazakhstan's women's national team won silver.
Turlov sees Kazakhstan's experience as an example of how long-term investment in education, infrastructure, and player development can help chess grow across a country.
Following the election, Turlov is expected to begin working with FIDE's leadership and national federations on the priorities outlined in his program, including digital modernization, support for member federations, chess in education, and the organization's long-term financial sustainability.
About Timur Turlov
Timur Turlov is the founder and chief executive officer of Freedom Holding Corp. He has served as president of the Kazakhstan Chess Federation since 2023 and is also president of the International School Chess Federation. His work in chess has focused on youth development, education, tournament infrastructure, and expanding access to the game.
About FIDE
The International Chess Federation (FIDE), founded in Paris in 1924 and headquartered in Lausanne, Switzerland, is the international governing body for chess. FIDE oversees international chess competition and the World Championship cycle and brings together 204 national chess federations around the world.
About Freedom Holding Corp.
Freedom Holding Corp. provides financial services in 24 countries, including Kazakhstan, the United States, multiple EU countries, Uzbekistan, and Armenia. The Company's principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Aviata. Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in the Russell 3000® Index.
Contact Information
Natalia Kharlashina
Head of Public Relations
prglobal@ffin.kz
+77013641454
SOURCE: Freedom Holding Corp.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many votes did Freedom Holding CEO Timur Turlov receive in the FIDE presidential election?
Turlov received 110 votes in the second round of FIDE's General Assembly election, while Wadim Rosenstein received 85.
What is Timur Turlov's proposed FIDE development fund for?
Turlov proposed increasing FIDE's development fund to more than $6 million. The funds could be used for tournaments, training coaches and arbiters, player travel, and national federations' administrative and communications work.
What digital changes does Timur Turlov propose for FIDE?
Turlov's program calls for a unified digital platform and wider access to digital tools for national federations. He also proposed further investment in anti-cheating tools and player verification for competitive online chess.