Non Executive Directors

Turkey's strong economic development rapidly changes and complicates the standards to which companies, especially public companies, must comply with. As in more developed countries, corporate governance in Turkey became to be accepted as a key success factor in the business world.

Non Executive Directors

Undertaking the greatest responsibility for the effective implementation and integration of corporate governance principles in the enterprise, the Board of Directors should first implement the principles regarding its composition. For this purpose, the concept of independent board membership, which will enhance quality and performance by diversifying governance structures, must be embraced.

Non executive directors not only eliminate gaps resulting from any shortfalls in competencies of the Board, but they also bring an objective perspective since they are not shareholders, they don’t have conflicts of interest with the family nor with the company, and are capable of assessing the company from outside.

MY Executive has been fulfilling the non executive director needs of many prominent organizations since 10 years. We apply professional solutions to all requirements by helping companies find the appropriate skills and competencies and create value for both parties.

SMEs: Moving Forward to Corporate Governance

As corporate governance principles are adopted by more organisations, a significant number of family businesses also started to target and plan for adoption. The first step in this process should be to carefully define the governance structures and principles. It is apparent that family businesses and SMEs which set off on their journey to success by adopting governance principles such as fairness, accountability, and transparency will ultimately need to seek independent board members. SMEs constitute the majority of companies in Turkey and act as the driving force of the economy. It stands to reason that more and more senior executives of SMEs will adopt corporate governance practices going forward.

Pointing to a heightened awareness amongst SME leaders, appointment of independent board members which is mandatory for listed companies is rather sought by SMEs to fill any competency gaps in the Board.  Thanks to independent board members, a company may provide access to a strong network of contacts at low cost, benefit from a strong financial literacy capability to reach various funding solutions, and have a valuable teammate who can view the company from outside. As family businesses become more transparent, and second and third generations require coaching, the demand for independent board membership will grow even more.

At MY Executive, we focus on fulfilling the demands of publicly-traded companies as well as SMEs and family-owned businesses for independent board members, senior executives and mid-level executives. With our experience, we will continue to be a pioneer in recruiting the crucial management resources required by SMEs in their adoption of corporate governance practices.