DID WE JUST REVEAL OUR SECRETS?
Here is our interview with Mete Buyurgan .
When we first began collaborating, he was already a seasoned professional, though not in our industry. Over the years, we’ve worked closely together, sharing many exciting experiences.He stands out as a prime example of someone who fully embraces responsibility, treating every task as if it were his own. At the time of this interview, he was serving as the CEO of Ülker, our flagship company within Yıldız Holding.
Since its founding, Ülker has experienced continuous and profitable growth for over 80 years. The journey began with a small biscuit workshop in Istanbul, which evolved into a factory; later, in the 1970s, the brand expanded into chocolate and opened a new biscuit factory in Ankara. By the 1980s, an independent chocolate factory was established in Istanbul.
In line with the strategic vertical-integration efforts of that period, Ülker became a lifeline to Yıldız Holding’s factories—producing key inputs such as packaging, oil, and dairy. Building on Sabri Ülker’s collaborative approach of treating customers as partners in the company’s success, Ülker expanded its stakeholder network, went public on the Istanbul Stock Exchange, and gradually became a regional powerhouse with factories across the region—from Kazakhstan to Romania, and from Saudi Arabia to Egypt.
From the very beginning, Ülker viewed exports as a necessity—developing its export capabilities and successfully building global brand recognition.
As I conducted this interview with Mete, I couldn’t help but wonder if, in sharing our experiences and possibly explaining some of our strategies, I had unintentionally revealed our secrets!
But remember: doing things right and succeeding doesn’t always guarantee financial rewards for an entrepreneur. And if the goal is to understand where true value lies, then everyone must find their own way to achieve it. Otherwise, wouldn’t we all just be following the advice of those professors who write books and give us lessons?
- Reflecting on “individuality” and “becoming the best version of oneself,” how did your journey to becoming the person you are today begin 25-30 years ago? What kind of family environment accompanied you along the way? Considering the significance of your decisions, how have these values that make “you” today influenced your perceptions of happiness, trust, and loyalty? How have they ultimately shaped your worldview?
Answering this question is quite enjoyable for me… Throughout my childhood, I always experienced the joy of being in a warm and loving home. If I go back 25-30 years, I was a young, energetic person dreaming of changing the world. My family, especially my mother, supported these dreams with unwavering encouragement, along with my first role model—my grandfather, whose discipline, respect, and dignified demeanor shaped my path. My father, on the other hand, played the role of a mentor, showing me the ups and downs of the business world, and instilling core values like honesty and hard work. At the same time, I am an older brother, and I believe my protective and cautious nature comes from this upbringing.
Similarly, throughout my career journey in business, my inquisitive and questioning nature has been instrumental in shaping the person I am today. My passion for learning remains as strong and fresh as eve
Generally, I consider myself a happy individual. However, I place more importance on moments of collective happiness, whether with my family or my colleagues, rather than individual moments of joy. These moments stand out more in my life.
One of the values I hold closest in both my personal and professional life is trust. This is likely rooted in the environment I was raised in, where trust and solidarity were deeply cherished.
My perspective on the world has evolved positively over time. While in my youth, I focused more on personal development, now I strive to be more beneficial and supportive to society, the community, and my loved ones.
- You are passionate about sports. You even played basketball professionally—did this contribute to your professional life? If so, how?
Sports have always played a significant role in my life, and they remain an integral part of it. In particular, basketball has greatly contributed to both my physical and mental development. Playing professional basketball not only instilled discipline in me, but also helped me develop key qualities such as teamwork, competition, leadership, and time management—qualities that have proven invaluable in my business career.
Just like in basketball, setting goals and collaborating with my team are crucial to achieving business success. The ability to make quick decisions on the court and adapt to changing circumstances prepared me for the challenges of the business world.
That’s why I recommend, starting from a young age, especially engaging in team sports.
- Do you find time during your day to take personalized “short breaks” to support your well-being and find a balance between your work and personal life?
My current work pace is quite intense, and of course, taking personal short breaks throughout the day is crucial. When the work tempo picks up, a short break offers a fantastic opportunity to relax the mind and increase productivity.
For me, taking a walk around the office, chatting with a newly hired intern, or discussing ideas with friends about packaging on my desk are all enjoyable ways to take a break. Conversations with colleagues about sports, life, the country, and the world, especially hearing the perspectives of younger team members, help refresh my mind, clear my thoughts, and energize me.
Being involved in sports is especially important to me. As a passionate Galatasaray fan and congress member, attending matches and soaking in the atmosphere there is a unique experience. I’m also a skilled PlayStation player, and when I’m at home, I enjoy relieving the day’s fatigue in this way. One of my most enjoyable breaks is GOYA… I love visiting nearby sales points—whether it’s near my home, my office, or while I’m traveling—and chatting with the local shopkeepers about their products.
In short, the meaning of a short break can differ for everyone. The key is to tailor that moment to your own needs and fully enjoy it. I firmly believe this contributes to increased productivity.
- Handling a packed schedule and making top-priority decisions demands effective time management. What’s your approach to this? For instance, how do you plan out your week?
Time is incredibly valuable, and having an effective time management strategy is crucial for staying agile and making the right decisions. For me, time management goes beyond just planning; it’s about prioritizing and maintaining focus. Of course, balancing my work and personal life also requires thoughtful time planning.
I plan my nearly 12-month agenda at the beginning of the year, especially for my regular meetings and travels. I organize my monthly and weekly plans by priority while staying focused on managing the immediate agenda and tackling areas that require attention. Essentially, I set the routine, but it’s the details that manage the agenda. I’m fortunate in this regard, as I have a team that is well-versed in the company’s priorities and always available. Sudden decisions and, as Mr. Sabri Ülker always said, short and efficient meetings deliver great results for us.
- While innovation, creativity, and staying current with trends are important, the real challenge lies in capturing and bringing these ideas to life. You have successfully achieved this with innovative products across the Ülker, McVitie’s, and GODIVA brands. How do you create opportunities for this? What is required? What is the upper management’s role in this process? How do you approach this within the companies you lead?
Innovation is truly a passion for us. When we create a new product, it feels like welcoming a child into the world. At Ülker, we all share a common goal: to make people happy. This means we must consistently offer our consumers new flavors and experiences.
So, how do we make this happen? First and foremost, we truly value the input from every member of our team. We’re like one big family, where everyone brings something to the table. One day, someone on the factory floor might suggest a new flavor, and the next day, a marketing team member might offer an innovative idea inspired by global trends. We thoughtfully consider and assess all of these ideas.
In my view, innovation can arise from anywhere. Therefore, fostering an environment where ideas are shared and discussed openly is one of a leader’s key responsibilities. This open culture, in turn, serves as the bedrock of our innovations. Over the years, innovation has become our strongest competitive advantage.
Naturally, we also pay close attention to our consumers for fresh ideas, conducting nearly 1,000 consumer research studies every year. Keeping a finger on the pulse of the consumer, and understanding their needs and trends ahead of time, is one of the cornerstones of innovation.
One of the best examples of this is the recent launch of Ülker Chocolate Dubai Flavor… After it gained traction on social media, we produced millions of units and made it widely accessible to our consumers at an affordable price.
I also want to stress that innovation isn’t just about generating ideas; it’s about execution. Without proper implementation in the field, innovations are unlikely to succeed. When introducing a new product or variation, it’s crucial to treat it with the utmost care—almost as if it were a baby. This is another key to success.
- Do you believe there is a universal formula for effective leadership? Is leadership a style, or does it encompass various elements? Could you explain based on your own experience?
Leadership is an ongoing process that requires continuous work and development. Every leader has a unique style, much like a fingerprint. For me, the most important aspect of leadership is, first and foremost, connecting with people and guiding them toward a shared goal.
In essence, leadership is like a marathon. While short-term successes are important, one must also stay focused on long-term objectives.
Leadership becomes sustainable and improvable by combining innate character traits with knowledge, experience, and advice from more seasoned leaders. I consider myself very fortunate to have acquired these qualities. I believe leadership is part of one’s inherent nature, but to advance it, a high level of empathy is essential. Furthermore, staying open to continuous learning, updating oneself, and putting in hard work are equally crucial elements. A leader must also have full command over the entire ecosystem they manage and maintain interaction with all stakeholders, which is another key factor.
In today’s world, situational leadership is also a vital concept. A leader must wear different hats and switch between them depending on the situation. Especially in global organizations, it’s valuable for a leader to understand diverse cultures, adopt various approaches, and integrate these differences into a cohesive strategy.
- The world is undergoing rapid and radical changes, with the technological revolution posing significant challenges to companies. These changes affect not only our professional lives but our personal lives as well. Are current company cultures adequate for balancing work and personal life? How is this balance reflected at pladis? What is the most important value for pladis in this scope? Does the company need to adjust its values? If we view this as a chain, what are the essential links, and how does upper management support them?
In a world that is changing so rapidly, it’s no longer feasible for companies to focus solely on profit. At pladis, we adopt a people-centered approach. This means that we don’t just produce products, we also touch people’s lives. This brings with it a great responsibility.
Although technology drives us closer to change each day, our values serve as our compass. They guide us in understanding where we are going, who we are, and who we want to become. People-centricity, innovation, and sustainability define our core values, and these values are embedded in the DNA of our company culture. Of course, the world is constantly changing, and we must keep up with this transformation. However, we will never compromise on our core values.
At pladis, including Ülker Biscuit and many other subsidiaries, our workplace brings together multiple generations, and I’m proud to say we are one of the companies with the strongest balance on this regard. We have fostered an inclusive culture where younger team members benefit from seasoned insights, while experienced colleagues invest their energy in guiding and empowering the younger generation. It’s a culture that turns ideas into action, driven by an 80-year-old startup mindset.
We are committed to updating ourselves in line with evolving technology and changing trends. Accordingly, we have implemented numerous initiatives in recent years. For example, flexible working systems, the effective use and renovation of social spaces in our campuses and factories, our “Good for You” programs, and social clubs all offer great options for our colleagues.
- Can you share a message that highlights pladis and Ülker Biscuit’s vision and mission for both its customers and employees? What does this message stand for and why is it important? Are there any new ideas or upcoming projects that you haven’t yet revealed, aimed at realizing this vision?
Our core mission, embraced by all our colleagues, is to “promise happiness in every bite to our consumers.”
We produce the world’s most beloved snacks, promising happiness in every bite to our customers, while finding joy by bringing happiness to all our stakeholders.
As the largest food company in our region, we also embrace numerous social responsibilities. As you’re aware, last year our country was hit by a devastating earthquake that deeply affected us all. In response, our company acted swiftly, delivering aid to those in the affected region. Within just four days, we produced a nutritious, vitamin-enriched earthquake biscuit. We also provided ongoing support to our colleagues, their families, and loved ones impacted by the disaster.
We have a robust and comprehensive sustainability program, which is highly regarded in the global arena. The pillars of this program are our world, value chain, employees, and society. We are undertaking impactful projects in each of these areas, all of which align with our mission of “Happiness in Every Bite.” Through these efforts, we make not only our consumers but also all our stakeholders happy, and ultimately, it makes us happy!
Those interested in the details of these projects can refer to the Ülker Sustainability Report:
https://www.ulker.com.tr/documents/ulker_surdurulebilirlik_raporu_2023.pdf
With the emphasis we place on innovation and our “Make Happy Be Happy” approach, we will continue to stand by our consumers with new products designed under the “Good for You” philosophy. We have made a significant entry into the food supplement category with our Ülker Everwell brand, in collaboration with TÜBİTAK. Our investments and projects in this area will grow, and we will have new surprises to reveal very soon.
- Digital transformation is a journey that boosts competitiveness. But when and where does this journey end, if at all? How does Türkiye differ from the rest of the world in this regard? What benchmarks should be used to assess the success of this transformation? What steps are you taking to ensure meaningful progress in this process?
I view digital transformation not as a process to be completed but as an endless journey. What truly counts on this journey is setting the right priorities and strategically adapting our digital infrastructure and work culture to support them within the organization.
In my view, the greatest benefit of digital transformation lies in the agility, speed, efficiency, and, ultimately, cost optimization it offers to both the organization and the individual.
At pladis and Ülker Biscuit, we have made significant digital investments, particularly across supply chain, sales, marketing, and finance, and are now reaping the benefits of these efforts. The cultural transformation and process design aspects of these digital initiatives are just as critical as their financial impacts, making it essential to plan these investments with a holistic approach.
At Ülker, we are concentrating on IoT (Internet of Things), our ERP system, sales automation, robotics, marketing AI, and AI-driven HR and digitalization applications. Moving forward, we plan to continue investing in these digital areas.
Artificial intelligence, particularly when integrated into a well-structured ERP program, has the potential to drive peak efficiency and speed. That’s why digitalization and AI initiatives shouldn’t be pursued merely because they are trending but should aim to create an end-to-end transformation.
The primary factor for the success or failure of digital projects should be whether they deliver substantial improvements in speed, agility, and efficiency by the time the project is completed, as I emphasized earlier.
To address the question of where Türkiye stands compared to the rest of the world, I would say Türkiye is beginning to witness significant developments. However, when it comes to digitalization, artificial intelligence has become a pivotal factor over the past two years, and unfortunately, we are not yet at a level to compete globally. In the future, our education system must place a strong emphasis on both digitalization and artificial intelligence, and we need to speed up efforts to increase the number of skilled professionals in these areas.
Additionally, I believe Turkish companies must prioritize investments in digitalization and AI to remain competitive on a global scale.
- Do you believe there’s a specific age at which someone is suited to become a CEO? What are your views on age differences in the workplace? How should we prepare younger generations for the upcoming changes? Are there specific considerations older generations should keep in mind when working with younger colleagues? What should both age groups focus on in the medium to long term? What are the most important areas or skills they should invest in for themselves? How is your company preparing its employees for the future?
It wouldn’t be accurate to say that a specific age is required to become a CEO. Experience is undoubtedly important, but what truly matters more than age is an individual’s vision, leadership qualities, problem-solving capabilities, and industry expertise. Some, like myself at 35, become CEOs at a young age, while others reach the role later in their careers. The key is that the individual stepping into the CEO position has the right skills, management experience, and leadership abilities. I also firmly believe that traits like empathy and active listening are just as crucial as these skills.
Drawing a line between young and older employees in the workplace, in my view, is an unproductive approach for both the company and its employees. Each age group brings its strengths and perspectives. The younger generation contributes fresh ideas and energy, while the older generations leverage their experience to refine and build on those ideas. What truly matters is fostering synergy between these distinct generations. For this purpose, we have implemented a Reverse Mentoring Program, through which we have seen firsthand the value of the older generation being mentored by the younger. The older generations have an important role to play here. Rather than criticizing younger employees, it’s essential to understand them and respect their diverse working perspectives. Similarly, the younger generation needs to recognize and appreciate the value, successes, and experiences that the older generations bring to the table.
At Ülker, we are confident in our successful management of this issue. I firmly believe that during generational changes, we have been able to transfer our “know-how” and accumulated knowledge seamlessly, without any loss.
Today, digitalization and technological advancements are reshaping every aspect of our lives. While younger generations may adapt more rapidly to these changes, it does not imply that older generations are unable to keep pace. Regardless of age, everyone needs to stay open to continuous learning and self-improvement.
At pladis, we offer a range of programs designed to foster the ongoing development of our employees. These initiatives provide opportunities to learn new technologies, engage with different cultures, and enhance leadership skills. Collaborating with colleagues across all age groups and learning from one another allows us to drive continuous growth. We are fully committed to nurturing this synergy at pladis.
- What benefits do you derive from the Board of Directors? Are there any changes you would make to the Board? How should the performance of the Board of Directors be assessed? How does your expertise in sales and marketing contribute to your role on these boards? Do you gain insights from these boards?
For me, the Board of Directors is more than just a decision-making body; it’s a platform where I gain valuable insights from diverse perspectives and constantly uncover growth opportunities. My background in sales and marketing, in particular, allows us to better understand consumer behavior, tailor our products to meet their needs, and swiftly execute our go-to-market strategies and channel management. Furthermore, the seamless collaboration we’ve fostered across our Marketing, R&D, Supply Chain, and Sales functions acts as a unified team, playing a key role in accelerating our innovation.
If I were the Chairman of the Board, I would focus on increasing investments in R&D and production technologies to further strengthen our company’s innovative vision.
In evaluating the Board’s performance, I would consider not only the company’s financial metrics but also key factors like employee satisfaction, customer loyalty, and our societal impact.
The Board’s role should be to provide leadership in strategic guidance, oversight and control, risk management, reputation and trust (for all stakeholders), as well as networking and setting benchmarks.
I consistently gain valuable insights from our Board members, as their diverse perspectives provide me with fresh approaches to my work.
- In your view, what defines a successful and an unsuccessful company? What do you consider to be the most prominent characteristics of these companies?
First and foremost, a successful company must create consistent and sustainable value for all its stakeholders. This value is measured through growth, employment, and ultimately, strong balance sheet management and profitability.
Successful companies, however, do not focus solely on profits. They excel in business, create societal value, ensure employee satisfaction, and emphasize long-term sustainable performance. These organizations prioritize diverse viewpoints and equality within the workplace.
For me, the key criterion of success is that the company I lead should be an industry leader, not only in its local market but also in global benchmarks.
As I always share with my colleagues, we cannot solely concentrate on financial targets. After all, we are a company centered on brand management and innovation. The true authority in our business lies with our consumers. Their satisfaction is the core criterion of our success, and this can be assessed through various metrics.
Financial indicators, in turn, reflect the outcomes of effectively managing all our business processes.
In my opinion, the key to Ülker’s success lies in its ability to stay attuned to consumer needs, swiftly adapt to evolving market dynamics, and consistently create innovative products. For instance, our brand Ülker has consistently been recognized as a “Lovemark” in independent studies over the years. Another crucial factor is the well-being of our employees. In numerous independent assessments, we have also been acknowledged as a “happy place to work” within our category.
Another key factor in success is the ability to foresee future trends and develop corresponding medium- and long-term strategies and actions.
Unsuccessful companies often stem from those that resist change, fail to prioritize the customer/consumer, and lack long-term strategic vision. As we all know, such companies inevitably struggle to compete and, over time, fade from the market. This may even manifest in short-term financial indicators and minimize the sense of belonging within the organization. For me, the most critical factor is reinforcing a sense of fairness within the company through tangible actions. I place great importance on viewing situations through the lens of equality and fairness.
- Marketing and sales are often seen as an inseparable duo. Is this really the case? Can sales exist without marketing, or marketing without sales? Is marketing really just a cost, while sales are seen as the revenue generator? In summary, as a CEO with a background in marketing and sales, what benefits have you gained from marketing?
Marketing and sales should be viewed as integral functions. If even one of them is lacking, the entire business loses its competitive edge. These functions are intertwined, each challenging and questioning the other toward a common goal, while also having their distinct areas of responsibility.
Marketing touches the heart of the consumer, while sales turn this touch into action through a proper go-to-market strategy. In my opinion, marketing is about adding value to the consumer’s life. This is why the collaboration between marketing and sales is essential for success.
Marketing teams must always keep in mind that their primary objective is to maximize sales for the relevant product or service, as the core purpose of any business is to create value through profitability. Additionally, I consider it equally important and a key objective to keep brands dynamic and aligned with the ever-changing market conditions. I also believe that marketing teams who can anticipate consumer needs and effectively communicate those needs are equipped with invaluable skills.
While marketing expenses may seem like short-term costs, they are, in fact, a crucial long-term investment. A strong marketing strategy not only strengthens brand loyalty but also expands the customer base and drives profitability over time. Sales, on the other hand, directly generate revenue. However, without marketing efforts, sustaining sales and preserving brand value becomes an impossible task.
As a manager with a background in both marketing and sales, I always acknowledge the importance of marketing. Marketing enables us to better understand the pulse of consumers, develop products aligned with their needs, and gain a competitive edge. By collaborating closely with the marketing team, we can achieve our sales objectives more effectively. Furthermore, marketing data enable us to analyze consumer behavior with greater accuracy and craft more targeted strategies for the future.
Here’s a secret: At Ülker, our marketing and sales teams are fully aligned and collaborate seamlessly. Our sales teams have an in-depth understanding of our marketing and brand strategies, operating within the strategic framework we’ve established. Moreover, both our marketing and sales teams continuously challenge each other to improve and perform better.
To summarize, as we have consistently witnessed in the past, the advantages of marketing will remain ever-present. The exceptional marketing initiatives, originally launched years ago under the unique vision of our founder, Sabri Ülker, continue to evolve and are actively carried forward by our teams today. I believe that these efforts have played a crucial role in strengthening and sustaining the power of our brands.
- Does the background of a CEO in marketing, sales, finance, engineering, or business have an impact? Would the areas they focus on differ? If so, how?
In my view, what truly matters for a CEO isn’t just their professional background, but their ability to understand every aspect of the organization, from the ground up, build the right team, and allow the team the freedom to work. While I have a business degree, I’m working alongside a team of exceptionally skilled engineers. Over the years, I have tried hard to grasp their knowledge, driven by genuine curiosity. It’s not necessarily about the background; it’s about having a curious mindset—understanding each person’s role and anticipating the outcomes of both challenges and successes. This is when your ability to foresee situations sharpens. I’ve always placed great value on knowledge and worked diligently to expand it. For example, understanding a production bottleneck has proven invaluable during sales meetings when we’re strategizing. Being proficient across all functions to maintain a holistic view is something I truly enjoy, and with a strong team, we continuously raise the bar for success.
My colleagues often joke that I’m an honorary R&D or honorary production leader. But when I hear these comments, I take them as a compliment, as they indicate that I’m able to communicate effectively with them and possess the knowledge to collaborate on key issues.
Ultimately, I believe situational leadership is having the ability to create a vision, and, when necessary, taking risks alongside your team. It’s mostly about rolling up your sleeves and leading by example in those moments.
I firmly believe that for a senior executive, it’s a grave mistake to prioritize issues based solely on their background or education.
- The significance of artificial intelligence (AI) is well-established, and it’s evident that AI plays a crucial role in simplifying access to accurate information for everyone, let alone its use in the corporate world. In your view, will AI primarily enhance operational efficiency in your business, or do you believe it will also foster creativity and drive new product innovation? How is artificial intelligence integrated into your company, and in which specific areas is it applied? What impact has it had on your operations and efficiency? What are the future directions for its use?
As you’ve pointed out, artificial intelligence is now a dominant force across all areas of life. I believe AI will become the most significant disruptive and transformative force in world history. It has already been widely adopted in the consumer goods sector.
At Ülker, one of our key advantages is the digital transformation initiative we launched 6-7 years ago. In our ongoing “Operational Excellence” program—one that is meant to be ongoing indefinitely—digitalization and AI integration play an essential role.
I always emphasize that for medium and large enterprises, having an effective and capable ERP system is crucial. Designing processes and integrating a well-functioning ERP system is like building a strong foundation for a skyscraper. If the foundation isn’t solid, the entire structure is at risk.
Therefore, we initiated the process by designing the ERP system, with the goal of ensuring seamless communication across all factories and departments, minimizing human errors. Furthermore, we incorporated robotic process automation—the first output of AI—into the system to maximize speed and efficiency.
Next, we implemented IoT (Internet of Things) across all 87 production lines in our factories. This allowed us to gather real-time data from the lines, significantly enhancing speed and agility, particularly within our supply chain. Currently, we are entering phase two of this project, where we aim to enable machines to make autonomous decisions. For example, at our Gebze facility, all forklifts have been replaced by autonomous robotic carriers.
In our sales operations, we apply AI extensively, from order creation to sales forecasting and real-time route planning. Customer invoices are reviewed by robots, and several functions in Marketing, Finance, and HR are integrated with AI.
For instance, in recruitment, AI helps identify the first round of candidates from our talent pool, eliminating human biases and subjective decision-making.
I believe AI will create a significant difference in the creative side of advertising agencies, especially in marketing, and we are already witnessing its impact.
In conclusion, it is clear that AI will, and even now, have a major impact, both in terms of creative thinking and in terms of agility and speed. I measure success in this area by how effectively AI is implemented, the added value it brings to creativity, and the speed, agility, and, most importantly, cost-saving benefits it delivers to our operations.
- If you could offer three pieces of advice that your listeners could immediately implement to become an effective leader and a valuable employee, what would they be?
If I were to offer three pieces of advice to those aspiring to be good leaders, the first would be: “Be visionary and inspire your team to believe in that vision.” A leader doesn’t just guide; they motivate and inspire their team. By establishing a clear vision, you must unite your team toward a common goal and bring out their full potential. A leader’s performance is measured by the success of their team.
Additionally, a good leader must always remember the ever-evolving nature of the business world. As a leader, you should adapt to these changes and remain committed to continuous learning. Keep up with new technologies, value diverse perspectives, and encourage your team for continuous development. Clear and effective communication is a fundamental attribute of any leader. By fostering an open line of communication with your team, listen to their ideas, and actively value their feedback. Additionally, cultivating strong relationships with key stakeholders within your ecosystem is crucial for driving greater collaboration.
A good leader must fully understand their responsibilities and prioritize the needs of the organization and company above their interests.
Being an effective leader begins with excelling as an employee. This involves completing tasks on time and with excellence, while also being aware of your responsibilities. Moreover, by adopting a proactive mindset, a leader should actively seek new challenges and continuously strive for self-improvement. The success of a team is the foundation for the success of the entire organization. Thus, you must collaborate with colleagues to achieve common goals, offering support and working in unison. Finally, in today’s highly competitive business environment, every team member must play an indispensable role, regardless of their position, whether a leader or not. Always aim to enhance your skills and drive your personal development. In the end, those who are self-driven and results-oriented are the ones who advance to significant positions in the medium to long term.
- Türkiye has recently been subjected to high inflation, and efforts are now being made to mitigate this situation. What are your expectations? How will the market outlook change? What is the relationship between this outlook and global markets? In previous high inflationary periods in Turkey, such as in the 1990s, how did the transition occur? Do you have any comments on this? What recommendations do you have? What measures are being implemented in pladis and Ülker?
I began my career in the mid-90s, gaining extensive experience during that time, which has proven invaluable in my current management role.
Unlike those years, we’ve recently seen a sharp rise in inflation, with devaluation rates reaching unprecedented levels since 2018. The pandemic, which lasted nearly 2.5 years, also brought significant changes and uncertainties, especially in the food sector. While inflation has begun to decrease with the introduction of various measures, the sharp fluctuations have led to substantial uncertainty and hesitation throughout all sectors of the economy, affecting consumers and society as a whole. As a result, we have been witnessing rapid and frequent shifts in market trends, often changing within just 2-3 months.
I expect that market conditions and demand will remain highly volatile until the end of 2025. In this context, I believe it is critical to support long-term strategies with short-term quarterly goals and milestones, prioritizing these short-term targets.
The accuracy of a company’s forecasts, inventory management, and cash flow positions will become more critical than profitability and other financial metrics. Companies need to enter this period in a strong position, with clearly defined priorities and a strong focus on them.
A key factor during such inflationary environments is assessing whether you can purchase the same amount of inventory in units or tons as your earnings. While this approach may appear simple, it often holds more value than many financial ratios.
At pladis and Ülker Biscuit, we are addressing the challenges posed by inflationary markets in line with the points I’ve outlined. We revise our annual and three-year budgets on a quarterly basis and carefully monitor our expense-to-profit balance. Most importantly, our agile and resilient, streamlined organizations enable us to make swift decisions, ensuring we continue delivering high-quality products to our consumers. We remain committed to investing in our brands and maintaining strong engagement with our team members.
Furthermore, our focus remains on our most vital stakeholders—our consumers. Reducing inflation is truly a key objective, and at Ülker, we are actively contributing to this goal by leveraging our cost and efficiency advantages.
- Ülker Biscuit successfully launched bond issues in international markets. How did you accomplish this, and were there any challenges in the process? What benefits does a strong sustainability practice offer you?
First and foremost, our strong financial discipline and robust growth story were key factors in earning the trust of international investors. Moreover, our sustainability-focused approach and commitment to transparency attracted further attention. By regularly communicating our environmental, social, and governance performance through sustainability reports, we allowed investors to gain a clearer insight into our operations.
Were there challenges? Without a doubt. Like any major project, the bond issuance process presented its difficulties. We had to consider various regulations across different countries and align them with the expectations of diverse investors. However, with our experienced team and solid financial infrastructure, we successfully addressed these challenges. In a short span, we held numerous meetings with international financial institutions and prepared extensive documentation.
Our sustainability efforts caught the attention of global investors. Sustainability is no longer a mere option; it’s a necessity. Investors are increasingly scrutinizing the environmental and social impacts of the companies they invest in. Through sustainability investments, we not only contribute to society and the planet but also enhance our financial standing.
Issuing our sustainability-linked bonds is more than a financial success; it’s a reflection of our dedication to our core values. This allows us to take pride in our work with our employees, consumers, and all our stakeholders. We will continue to work relentlessly on our sustainability initiatives to build a better and more sustainable future for our world, our country, and our company.
- What are the differences between managing a publicly traded company and a privately held one? Could you explain based on your own experience?
There are several key differences between managing a publicly traded company and a privately held one. A publicly traded company must be more transparent and accountable to earn and maintain the trust of its investors. These companies must comply with strict reporting and disclosure standards set by regulatory bodies. Additionally, they need to regularly share their financial performance and strategic plans to protect the interests of shareholders.
For a major food company like Ülker Biscuit, going public represented a pivotal moment in its growth trajectory. With the transition to a public company, meeting investor expectations, fulfilling regulatory requirements, and maintaining transparency become essential. Despite the challenges, this shift has strengthened our corporate governance structure and has led to a more professional organizational framework.
At Ülker Biscuit, we are fully aware of the responsibilities associated with being a publicly traded company, and we are committed to fulfilling them to the highest standard.
This interview was originally published on October 9, 2024.
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