24.02.2021 Ankara
The XIII. Corporate Governance Summit organized by the Corporate Governance Association of Turkey (TKYD) in cooperation this year with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) began with the participation of experts from the public, business world and international field.
Speaking
at the opening of the two-day online summit, TOBB President M. Rifat
Hisarcıklıoğlu said that corporate governance practices are essential for
companies that want to be sustainable and continue their activities. Pointing
out that one of the most important problems of the business world is this
issue, Hisarcıklıoğlu said: “As the President of the Turkish business world, I
would like to underline these two points. Underneath both, there's an
understanding of corporate governance. First, always start with a good partner.
Don't tell me you can handle it alone. Always give way to your partner when you
walk through the door, don't be eager to pass first. Here's the secret to
success. The second is don't discriminate between children. There is no room
for discrimination in corporate governance. I'm telling you very clearly, to
have a woman entrepreneur, a manager in a company, a female perspective will
make you stand out one step more in terms of corporate governance.”
Noting
that some of the enterprises established with great enthusiasm and resources
are unfortunately disappearing after a certain period of time, TOBB President
said, “It is not only the capital of that company that vanishes here, the
capital of the country is also diminished. That's why companies of all sizes must
implement corporate governance elements in their business to the extent of
their means.” Hisarcıklıoğlu emphasized that this form of management is based
on the principles of 'Fairness', 'Transparency', 'Accountability' and
'Responsibility.'
TOBB
President Rifat Hisarcıklıoğlu said that as TOBB and the Chamber-Exchange
community, they attach great importance to this issue while carrying out their
activities and that one of the most important concrete indicators of corporate
governance is the Chamber-Exchange Accreditation System, noting that 282 of the
365 Chambers-Exchanges are accredited today in the accreditation system where
they have completed their 20th year.
Noting
that it is strengthening corporate governance is very important for public
policy processes in the public sector, M. Rifat Hisarcıklıoğlu stated that, “Experience
has shown since the past that the stronger the public-private consultation
mechanism in the policy design process, the more effective the emerging
policies are. That's why we need public-private consultation much more than in
the past, especially in these times when we're going through. As long as we
develop an effective consultation and discussion environment, we will have a
solid corporate governance approach in the public sector.”
- Feyyaz Ünal: “Properly
functioning management structure increases investor inflow”
Noting
that the investment wind blowing around the world can be caught by corporate
governance, TKYD Chairman Feyyaz Ünal said, “95% of the companies in our
country are family companies. But the average company life span is limited to a
quarter of a century; so we're entrepreneurial, but we can't sustain it.
Therefore, corporate governance is not a matter of 'should we do it', it is a
necessity for companies to exist in the future. If we don't run our companies
corporately, we become a 'small corporate country'. We try to establish new
companies and divide the possibilities. However, there is a wind of investment
around the world with the crisis. A management culture and a properly
functioning management structure increase investors' confidence in companies
and investment inflows all over the world. Corporate governance mediates us to
create that trust. It ensures that managers are fair, transparent, know that
they will be held to account when necessary and act responsibly, regardless of
the public, civil society, private sector.”
Ünal
stated that the world is now talking about sustainable corporate governance,
“As TKYD, we are both a spokesperson and a party to sustainability. In all our
studies, we aim to contribute to the work of our country's organizations for a
sustainable future in every field from our activities to the documents we
create with working groups. We put importance on and follow best practices
coming to our country with the influence of our close ties with many international
institutions.”
Ünal,
who also announced that TKYD will start a new project that they believe will
make a significant contribution to the business world in the coming days, said
that they will launch the 'Independent Member Placement Program' for the boards
of directors of the companies as the first step in the two-part project, which
they will implement together with MY Executive.
- Public-Private sector dialogue
discussed
The
XIII. Corporate Governance Summit continued with a session on “Facilitating
Factors for Strengthening Public Policy Processes and Policy Effectiveness”
following the opening speeches. The session, moderated by TKYD Board Member
Eray Akdağ and attended by Sanofi Pharmaceuticals Market Access and Public
Relations Director Güray Karacar and R&D Consulting Partner Dr. Erkin
Erimez, focused on improving public policies through increased dialogue between
the public and private sectors. Following the panel, assessments of the banking
sector and corporate governance, prepared by the international consulting firm
Nestor Advisors, were shared by the firm's managing partner, senior consultant
Stilpon Nestor.
- XI. Corporate Governance Awards
announcing tomorrow
The
second and final day of the XIII. Corporate Governance Summit will begin tomorrow
(February 25th) at 14.00 with the XI. Corporate Governance Awards Ceremony. The
ceremony will present awards in five main categories, based on corporate
governance rating ratings obtained by companies and non-governmental
organizations in 2020. IFC Europe and Central Asia Corporate Governance Leader
Merima Zupcevic, the main speaker of the second day following the ceremony,
will discuss “How Corporate Governance is Implemented in SMEs.”
The
second main session of the summit, “Creating Value - Evaluation of Sustainable
Business and Turkey's Place in International Indices in Terms of Corporate
Governance”, will be moderated by TOBB President Advisor and Head of Real
Sector Department Hasan Çağlayan Dündar, with the participation of Ahmet İhsan
Erdem, Vice President of the Turkish Presidential Investment Office and Ece
Bör, General Manager of the Turkish Central Development Bank. Pavle Djuric,
Executive Legal Counsel of the EBRD Legal Transformation Team, will close the
XIII. Corporate Governance Summit with her speech titled “Next Step in
Corporate Governance, Development Areas.”