(Bloomberg) -- Ahmet Davutoglu, a one-time prime minister and chairman of Turkey’s ruling AK Party, announced he was resigning from the governing bloc on Friday.

“AK Party has waived its founding principles,” Davutoglu said, speaking at a press conference in Ankara. The fact that the party has taken disciplinary action against him, and other politicians that support him, means the organization has effectively “liquidated” the AK Party of 18 years ago, he said.

Davutoglu served as premier and chairman of AK Party from 2014 to 2016. He is working on establishing “a new political movement” based on the values and principles that the ruling party has lost, he said.

His speech was partially carried live on Halk TV, a channel affiliated with the opposition Republican People’s Party, and Davutoglu’s own Twitter feed. No mainstream TV channel broadcast the press conference.

To contact the reporter on this story: Taylan Bilgic in Istanbul at tbilgic2@bloomberg.net

To contact the editors responsible for this story: Onur Ant at oant@bloomberg.net, Constantine Courcoulas, Robert Brand

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