Güler Sabancı, chairperson of Sabancı Holding, one of Türkiye's biggest conglomerates, will step down from her role and resign from the board of directors following the company's annual general assembly meeting scheduled for Thursday, a statement said on Tuesday.
Sabancı Holding announced plans to appoint Hayri Çulhacı – currently a board member – as the new chairperson of the board, according to its statement submitted to the Public Disclosure Platform (KAP).
Having assumed the chairperson role in 2004 following the late Sakıp Sabancı, Güler Sabancı has led the holding through two decades of growth and strategic transformation. "She will meet with shareholders for the last time as Chair at the General Assembly on March 27," the statement said.
"Together with our Board Members, management team, and Sabancı colleagues, we have brought our Group to a significant level both domestically and internationally over the 21 years as Chair. With the inner peace of having successfully completed many tasks and representing our Group's reputation as it deserves, I am stepping down from the Chair role of Sabancı Holding," she said in her message.
She expressed that the group is ready for a new era with its strong financial structure, culture open to innovation and technology, superior human resources, pioneering management systems in institutionalization, and exemplary business ethics.
Çulhacı, a veteran of the Sabancı Group with nearly 35 years of experience, has held several prominent positions within the organization.
These include membership of the executive committee at Sabancı Holding, deputy chairperson of lender Akbank's board of directors, and numerous directorships across Sabancı Holding and its subsidiaries.
Güler Sabancı, meanwhile, will maintain some of her other roles and will continue to be chair of the Sabancı Foundation board of trustees, founding chairperson of the Sabancı University board of trustees, and chair of the Sakıp Sabancı Museum board of directors.
Established in 1967, Sabancı Holding operates across a diverse range of industries, including financial services, energy, cement, retail, and industrial sectors.
The group has a significant global presence, with operations in 14 countries across five continents, employing more than 60,000 people. Sabancı Holding is publicly traded on the Borsa Istanbul Stock Exchange, with the founding Sabancı family maintaining a majority stake.
Sabancı Holding and its 11 listed subsidiaries' shares constituted around 5% of the total market capitalization of Borsa Istanbul as of the end of 2023.
The group registered a combined revenue of TL 811 billion ($21.36 billion) and a consolidated net income of TL 15 billion in 2023.
Key subsidiaries and partnerships include Akbank, Enerjisa, a major player in the energy sector, and Brisa, a joint venture with Bridgestone in tire manufacturing. The holding also collaborates with global companies such as Ageas, Carrefour and HeidelbergCement.
