The Corporate Governance Guideline for Family Owned Businesses

Our Managing Partner, Fikret Sebilcioğlu, has been the lead co-writer of the guidelines Corporate Governance for Family Owned Businesses issued by the Corporate Governance Association of Turkey.

Following the 2001 financial crisis, the Turkish government implemented a range of reforms which have enabled the country to become a regional economic power and emerge from the recent global financial crisis relatively unscathed. Instituting a culture of good governance has been a crucial element in this reform process. Since its establishment in 2003, the Corporate Governance Association of Turkey (TKYD), together with its member companies and local and international partners, has played an integral role in raising awareness and advocating better governance practices throughout Turkey and the region.

TKYD is a pioneer in developing corporate governance for family companies. This governance guide is the culmination of TKYD’s efforts to prepare small and medium sized businesses – particularly family businesses - for compliance with forthcoming governance regulations in the revised Commercial Code. Given that family businesses comprise 95 percent of all registered companies in Turkey, it is crucial that they have a strong understanding of corporate governance in order for reforms in the country to succeed. We hope that this guide will assist businesses throughout Turkey - regardless of structure or size - in the pursuit of corporate governance best practices and compliance to increase their individual bottom lines as well as the bottom line of the Turkish economy.