Casablanca-born founder hands over day-to-day leadership of €551 million Spanish mobility group
At 47, Othman Ktiri is reshaping the leadership of OK Mobility, the group he built in Mallorca. An executive who has been with the company since 2018 becomes CEO, while the Moroccan entrepreneur focuses on investment and strategy.
OK Mobility’s board of directors has appointed Joaquim Monclús CEO and managing director. The decision, unanimously approved and announced on November 9, marks a new phase for the company founded by Othman Ktiri. Ktiri remains executive chairman, while Monclús takes charge of operations, commercial activities and results.
Born in Casablanca in 1979, Othman Ktiri studied agronomy and the environment in Paris before moving to Mallorca in 2004. After his first job in the automotive industry, he founded a company specializing in used-car sales in 2005. In 2010, he launched OK Rent a Car, the starting point for his expansion into car rental.
The company has since grown to a new scale. OK Mobility Group generated €551 million in revenue in 2024, according to the group’s official figures. The brand now has more than 80 agencies across 16 countries. In 2023, it notably opened its first agency in Morocco, at Marrakech-Menara Airport.
A new leader to drive further expansion
Joaquim Monclús knows the company well. Hired in 2018 as chief financial officer, he most recently served as director of corporate functions. He now takes charge of day-to-day management and will coordinate the executive committee, under the supervision of the executive chairman and the board of directors.
Othman Ktiri will focus on the group’s overall direction, capital allocation, and relations with investors and automakers. “I remain at the helm of the project I founded more than twenty years ago,” he said in the announcement of the appointment.
The reshuffle accompanies the OK Forward plan, unveiled in February 2026, which aims to strengthen the group’s operations in southern Europe and expand its international franchise network. It follows several financial transactions this year: a refinancing of about €300 million, an additional €130 million in financing, and a convertible loan of up to €10 million.
