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Our Team
Founder, Principal
Dr. Guler Manisali Darman
Partners
Necati Turker
Dr. Cagri Bagatur
Advisory Board
Prof. Dr. Tamer Müftüoğlu
Doç. Dr. Korkut Özkorkut
Doç. Dr. Güray Küçükkocaoğlu
Saleh Hussain
Prof. Dr. Erik P.M. Vermeulen
Prof. Dr. Joseph A. McCahery
Project Partners
Semsettin Akcay
Founder, Principal
Dr. Guler Manisali Darman
Dr. Güler Manisalı Darman was graduated from The Middle East
Technical University / Faculty of Business / Department of
Business Administration of in 1979. She took her master degree
in the Faculty of Political Sciences / Department of Business
Administration, whereas she took her doctorate in the Baskent
University / Department of Accounting-Finance.
Between the years of 1980-1988, she worked as the Executive
Director of the ICC (International Chamber of Commerce) Turkish
National Committee the headquarter of which is based in Paris,
and active under TOBB umbrella in Turkey. In 1988 she switched
to private sector, and she has worked as CFO and CEO of eminent
groups until the earlier 2005.
She is currently the Vice Chair of the ICC Financial Services
and Insurance Commission. Moreover, she is the active member of
European Corporate Governance Institute (ECGI), which consists
of the European business interests and academicians, and the
Corporate Governance Association of Turkey. In 2008, she was
elected as the Liaison Officer of American European Community
Association (AECA), headquarter in Brussels, a dynamic
TransAtlantic alliance that provides a potent forum for
discussion of key global business, economic and political
affairs founded by in 1980 by Sir David Nicholson, Member of the
European Parliament.
Dr. Güler Manisalı Darman is also one of the founders of Junior
Chamber International Turkey, which is based in the United
States. Besides, she has the title as the Senator. She was the
opening key-note speaker of the JCI Fukuoko World Congress in
2004.
In 2004, her book entitled “Corporate Governance Worldwide” was
published by the ICC. The book is sold in 130 countries. Dr.
Manisalı Darman has delivered seminars and taken part in many
international roundtables in various countries such as the
United Kingdom, France, Italy, China, Japan, South Africa,
Morocco, Sweden, Norway, Dubai, Prag, and Turkiye, for the last
2 years. On the invitation of a joint program of Trieste
University, West Minister University and Political Academy of
London, she lectured as a visiting scholar in Italy on corporate
governance in 2005 summer. In 2008, her second book was
published by TOBB ICC Turkish National Committee, entitled “Küresel
Ekonomilerde Kurumsal Yönetim Anlayışı ve Türkiye” / “The
Perception of Corporate Governance in the Global Economics and
Turkiye”. In 2009, CGS issued her e-book entitled, "Aile
Şirketlerinde Kurumsallaşma Sürecinden Kurumsal Yönetime Doğru"
/ “Family Business: From Management to Corporate Governance ”.
Dr. Manisali-Darman also lectures on corporate governance in
Middle East Technical University, and TOBB University of
Economics and Technology, and “TOBB University Of Economics And
Technology, Permanent Education Program, Management and
Corporate Governance” in Ankara. She has articles in the several
reading materials and the books which were prepared by Marmara
University and 9 Eylul University, and which were published by
Capital Markets Board of Turkey.
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Partners
Necati
Turker
He has born in Istanbul in 1956 and graduated from METU Middle
East Technical University, Department of Management (Ankara) in
1979.
He has been certified as Nationwide Professional Tourist Guide
by Ministry of Culture and Tourism in 1975. He worked in TAKSAN
Machine Tools Corp. between 1979-1983 as investment planning
specialist. He worked in OZDEMIR Construction Co.
between1983-1988 as commercial manager responsible of
international projects.
He established his first company in 1988 in consultancy services
for tourism investments. Since then he served for the
development of Belek Tourism Center (BETUYAB) for more than
35.000 beds investment around the country. He continues advisory
services on project management consultancy, design guidance,
land development, project financing, and equity partnership in
management companies, destination development and other revenue
increasing investments in tourism industry. He is also active as
broker for hotels and commercial real estates.
He is the founder partner and President of GNT Hotel Decoration
Tourism and Project Management Ltd. Co. He is one of the founder
members of JCI Junior Chamber International Turkey in 1987 and
since 2004 presidential advisor of JCI responsible of
Mediterranean and Eastern European Countries. Since 1990 he is
the member of TYD Turkish Tourism Investors Association Advisory
Committee. He was active in the Executive Committees of ITHA
International Tourist Health Association and TSD Turkish Tourist
Health Society between1990-2000. Since 1999 he is a member of
AIEST Association of Professional Tourism Experts. Since 2004 he
is a member of “Business in Society Commission” of ICC
International Chamber of Commerce in Paris basically working
about Corporate Social Responsibility (CSR).
more information:
www.gnt-tourism.com
Dr. Cagri Bagatur Dr.
Cagri Bagatur has graduated from Ankara University, Faculty of
Law in 1985 and completed his Ph.D. in Cukurova University,
Faculty of Agriculture- Department of Agriculture Economics in
1999. He is also an academic member of Kultur University,
Faculty of Communication. Dr. Cagrı Bagatur also gives freelance
lectures to business world on Sales Guarantee, Media and
Advertising Law, Education of Contract Law, Unfair Competition.
He is a partner and lecturer in Corporate Governance &
Sustainability Center. Dr. Bagatur is a member of the Board of
Directors of Kalder (Quality Assurance Association), member of
LAWORLD (INTERNOMOS), Istanbul Bar and Junior Chamber
International.
He is the Founder and Legal Practitioner of Bagatur Law
Office. His practice areas are Commercial Law, Company Law,
Adverting Law, Maritime and transportation Law, International
Law, Arbitration, Competition Law, Intellectual Property Law,
Mergers and Acquisition and Contract Law of Contracts.
Dr. Bagatur has various publications on organic agriculture
and various FAO (The United Nations Food and Agriculture
Organisation) and Ministry of Agriculture and Rural Affairs
workshops related projects He has been analyzing and doing
comparative studies on new legal arrangement processes on
Turkish regulations and EU legislation system on organic
agriculture since since 2001.
Dr. Bagatur has also been doing legal preparations needed for
ecological education program for children since March 2007 as a
corporate social responsibility project.
more information:
www.bagatur.com
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Advisory Board
Prof. Dr. Tamer Muftuoglu
Prof. Dr. Tamer Muftuoglu has graduated from Köln University,
Faculty of Social Sciences, Management. He worked as consultant
in Turkish Confederation of SME and Craft, Director of SME and
Craft Research Institute, Chairman of Small and Medium Industry
Development Organization, Board Director of Turkish Foundation
for Small and Medium Business, SME Consultant in Vakifbank, Vice
Chairman of Turkish Competition Authority, Chairman of Turkish
Competition Authority and Head of Social Sciences Institute of
Baskent University. He is also an academic member of Baskent
University, Faculty of Economics and Administrative Sciences
School.
Relevant to his
degree and experience, Prof. Dr. Muftuoglu has an extensive
knowledge on the problems, structures, inter-business relations
of the SMEs. He is very familiar with the SMEs since he has been
employed or worked all SME-related institutions in Turkey.
Prof. Muftuoglu has
written five books and edited six books. In addition to his
books, he has over a hundred of papers and articles, and he
participated to hundreds of conferences both as a speaker and a
guest.
Assoc. Prof. Korkut
Ozkorkut
Dr. Korkut Ozkorkut has
graduated from Ankara University, Faculty of Law in 1989 and
completed his Ph.D. in Ankara University, Institute of Social
Sciences, Private Law (Commercial Law) in 2001. He is an
Associated Professor of Commercial Law, in the Department of
Business Administration, Ankara University, Faculty of Political
Sciences and a full-time lecturer. He is also a part-time
Instructor in the department of Business Administration, TOBB
University of Economics and Technology, Faculty of Economics and
Administrative Sciences.
Dr. Ozkorkut is the Deputy Director of Research
Institute of Banking and Commercial Law.
Lectures given by him are Commercial Law,
Company Law, Law of Joint-Stock Corporations,
Law of Negotiable Instruments, Capital Market
Law at the graduate level, and Cross border
Securities Transactions, and Financial Law at
the postgraduate level.
Dr. Ozkorkut has various
book published on “Independent Board Members”, “ADR’s in Turkish
Legal System”, “Board Resolutions and How to Cancel Them”. In
addition to his academical positions, he is also a legal
consultant of the Union of Chambers of Certified Public
Accountants and Sworn-in Certified Public Accountants of Turkey
(TURMOB).
Assoc. Prof.
Guray Kucukkocaoglu
Dr. Kucukkocaoglu has graduated from
Central Missouri State University, Harmon College of Business
Administration in 1998 and has completed his Ph.D. in Ankara
University, Faculty of Political Sciences in 2003. Dr.
Kucukkocaoglu lectures Corporate Finance, Financial
Institutions, Investments and International Finance at the
undergraduate level, and Corporate Finance and Project Analysis
in MBA. He also lectures Portfolio and Investment Analyses and
Derivative Securities courses to the Doctorate students in
Baskent University, Faculty of Economics and Administrative
Sciences School.
Dr. Kucukkocaoglu has many articles
published at the national and international journals in finance,
such as International Journal of Investment Management and
Financial Innovation; International Research Journal of Finance
and Economics. Dr. K has participated to and delivered many
papers at the international and national conferences.
Saleh
Hussain
Saleh Hussain is a Bahrain National with a Master Degree from
Brunel University in the United Kingdom . He has been in Banking
since 1970 and held number of senior positions in the sector
such as CEO of Banks. Currently Mr. Hussain is the Deputy
Chairman of Bahrain Bankers Society. He holds a number of Board
directorships of Banks and financial institutions, and sits on
the audit committee of various banks.
Saleh Hussain has eight books on
corporate governance in general and also in the corporate
governance practices in the GCC Region and Bahrain. He also has
his own consultancy company on corporate governance.
Prof. Dr.
Erik P.M. Vermeulen
Erik P.M.
Vermeulen
is Professor of Business Law at Tilburg
University Faculty of Law and Professor of Financial Market
Regulation at the Tilburg Law and Economics Center (TILEC). He
is the coordinator of the International Business Law Master
Program at Tilburg University. He was TPR Professor of Law at
Ghent University in Belgium. Professor Vermeulen lectures
regularly at the Tias-Nimbas Business School. He has worked on
projects concerned with corporate governance in non-listed and
family run companies. He has undertaken consulting work in
Japan, Colombia, the Netherlands, and UAE. He has worked on
projects for the European Parliament, the Dutch Development
Finance Institution, OECD, and Euronext. His current research
looks at the role of enforcement in relation to capital market
development, joint venture structures and investment in emerging
markets, branch and subsidiaries in groups in European high tech
companies, and listings on emerging markets and secondary
markets in Europe. He is a member of the Legal Committee of the
EuropeanIssuers (Brussels).
Prof. Dr.
Joseph A. McCahery
Joseph A. McCahery
is Professor of International Economic Law at
Tilburg University Faculty of Law and Tilec .He
is also Program Director of the Finance and Law Program at
Duisenberg School of Finance. Professor McCahery is a Research
Fellow at the Institute of International Corporate Governance
and Accountability, George Washington University and Research
Associate at the European Corporate Governance Institute (ECGI)
in Brussels. In addition to having held visiting positions at
Leiden University, Tias-Nimbas Business School, he is also the
Leo Goldschmidt Visiting Professor of Corporate Governance at
Solvay Business School at Brussels University (ULB). He has
worked on projects concerning financial markets and financial
institutions in the Netherlands, UK, US, Japan, and Indonesia.
He has undertaken work for OECD, European Commission, the
Netherlands Corporate Governance Monitoring Committee,
Netherlands Authority for the Financial Markets, Dutch National
Bank, and the Netherlands Ministry of Economic Affairs. His
current research involves institutional investors and firm
performance, real estate investment funds and governance
structures, and the regulation of hedge funds and private
equity. He is currently co-director of the Amsterdam Center for
Corporate Finance
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Project Partners
Semsettin
Akcay
Semsettin Akcay, a leading certified trainer and founder-owner
of Active Training Ltd, has incorporated the Corporate
University philosophy in the training courses the company
undertakes. He believes that corporate success and development
can only be realized and sustainable, if there are continuous
and long-lasting training programs.
Active Training delivers its training services through three
different methods;
- Undertaking in house training development programs and
training the trainers
- Training the non-trainers
- Coaching the executives
"Active Training Train of Trainers" program is among the
most successful programs in the training circles. Semsettin
Akcay is also the writer of the “Training Games Hand Book
for Trainers”.
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Management is doing things right; leadership is doing the right things.
Dr. Peter Drucker
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Principal's Message
Corporate Governance and Sustainability Center
There is no
"one-size-fits-all" governance structure.
However, globalization, stringent rules of the capital markets,
mergers and acquisitions, and company valuations have led to
convergence in corporate governance.
In the 20th century, modern corporations became one of the world’s
dominant institutions. Consequently, the way they do business is now
under close scrutiny.
One of the most important ways real economies diverge from textbook
models is in the problems of agency costs, asymmetric information, and
imperfect monitoring. Especially in widely–held companies which enjoy
dispersed ownership structure, failure to exercise control over
corporation by the shareholders, poses a challenge to the interests of
shareholders which is a classical agency problem. Managers may have
different goals and may entrench the company sources to the detriment of
shareholders. By definition, they possess more information about the
company than the shareholders and the board, which is information
asymmetry. Good corporate governance induces corporate managers, as
agents of shareholders, to manage assets in the best interests of their
owners.
Entrepreneurship is one of the most significant factors in business
development. Yet, it has to be accompanied by sustainability which is
the pre-requisite for growth. And the success lies in establishing a good
governance structure. People with broad vision are aware of this.
Family owned companies should accept that they are not immune from the
problems their competitors face, be they widely held, state-owned, or
based on other management structures. One of the most effective tools
for making a family owned business work is to have a well-established
structure of governance. Being a family company does not constitute an
obstacle to having a set of codes and practices for running an effective
business.
Besides, a successful entrepreneur may not necessarily be a
good leader.
Family owned
companies have to prepare future generations to compete in an
increasingly globalized world.
This means asking themselves:
- Are
they ready for growth?
- How
will they organize for growth – benchmarking, using more
independent directors, etc.?
- How
will they finance growth? Can they resort to creative financing
without assuming more debt?
- What
are the trade offs if they go public?
- How
will they handle family succession while seeking more growth?
In all regions, there are well-organized companies with
effective board structures, well-functioning internal and
external audit controls, transparent accounting, and socially
responsible boards. But there are also countless numbers of
companies that do not fall into this category. These may be
widely held multinationals in global terms, companies with
controlling shareholders, family companies, or small- and
medium- sized enterprises (SMEs). They may be listed or
unlisted. Whatever their structure, the consequences of their
actions can have wide ramifications. These companies or groups
of companies are receiving credits, purchasing insurance, using
domestic or global auditing companies, and being rated by the
ratings agencies. If they are listed, they may be distributing
profits to their shareholders. In short, they are in contact
with all the parties who have a stake in the company, the
stakeholders. Therefore
companies have to realize the great impact of their activities
on all their stakeholders. Moreover,
the quality of
corporate governance is relevant to capital formation.
Corporate Governance and Sustainability Center is established to
raise awareness and assist to companies on their way to good governance.
Dr. Güler Manisalı Darman Founder, Principal
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Corporate
