“Boards Empowered by Women” Awards

The first conference in the “Independent Woman Directors” Project implemented by the Sabancı University Corporate Governance Forum was held on Thursday, November 14, 2013 at the Conrad Hotel.

Keynote speaker was Global Board Ready Women Founding Partner and Global Telecom’s Women Network President Bridget P. Cosgrave, followed by the presentation of Turkey’s first “Boards Empowered by Women” awards with the attendance of the Consul-General of Sweden, Jens Odlander.  The “2013 Independent Woman Directors Report” with a foreword by Capital Markets Board President Dr. Vahdettin Ertaş was also presented in the conference.

The first “Independent Woman Directors Conference” was held at the Istanbul Conrad Hotel on Thursday, November 14th as part of the “Independent Woman Directors” project implemented by the Sabancı University Corporate Governance Forum with the financial support of the Consulate of Sweden and the strategic support of Egon Zehnder International’s Turkey office. 

After a welcome speech by Sabancı University School of Management Dean Füsun Ülengin, the opening speech was given by one of Turkey’s first professional woman directors and Doğan Holding Board of Directors member İmre Barmanbek.

“Companies with more women in senior management positions achieve better organizational and financial performance.”

A video message sent by Viviane Reding, Vice-President and Commissioner Responsible for Justice, Fundamental Rights and Citizenship of the European Commission said that women still faced considerable obstacles in reaching decision-making positions.

Reding’s message continued: “Initiatives like Independent Woman Directors help women overcome obstacles and bring equality to the world of business.  I am recording this message because you are a member of the Global Board Ready Women Project – one that I wholeheartedly support.  My project and your project will help women shatter glass ceilings and reach higher positions around the world.”

Keynote speaker Bridget P. Cosgrave, Global Board Ready Women Founding Partner and Global Telecom’s Women Network President, discussed the ratio of women on the boards of European companies.

“Independent Woman Directors Project Report”

Sabancı University Corporate Governance Forum and Independent Woman Directors Project Director Melsa Ararat presented the “Independent Woman Directors Turkey 2013” report prepared by Sabancı University.  Melsa Ararat said, “A greater number of women on boards will ensure that the social implications of economic decisions will be considered, and contribute to the rebuilding of the deteriorated social confidence in businesses, and help the humanization of workplaces.”

Companies with “Boards Empowered by Women” in Turkey

The first “Boards Empowered by Women Awards” were presented by Consul-General of Sweden, Jens Odlander.  Winners of the award were Turcas Petrol, Türk Tuborg, Martı Otel İşletmeleri, Logo Yazılım and Hürriyet Gazetecilik.  The awards were based on index calculations designed by Sabancı University faculty members Melsa Ararat, Işın Güler and Özgecan Koçak.  The index considers “Ratio of Woman Board Members,” “Ratio of Independent Woman Directors,” “Ratio of Women in Commissions,” and “Ratio of Women as Vice-Presidents of Boards” as well as confirming whether the threshold of at least three members has been met.  Awards were received by Turcas Petrol Board of Directors Chair Erdal Aksoy, Martı Otel Board of Directors Chair Pakize  Oya Narin, Logo Yazılım Board of Directors Chair Tuğrul Tekbulut, Hürriyet Gazetecilik senior management member Gönül Birkiye and Türk Tuborg senior management member Ayşe Keskinel on behalf of their respective companies.

The conference concluded with a speech by TAV Havalimanları, Migros and Doğan Holding Indepedent Board of Directors Member Tayfun Bayazıt on “Best Practices in Board Nominations.”