The person who makes justified decisions will be the executer in all of our companies. Therefore, personnel undertaking a responsibility within delegation of authority will undertake such responsibility with his/her superior. The aim here is to make the executer proactive instead of waiting for decision from superior. And the approving authority should approve decisions in a timely manner and take company interests into account.

For any decision unapproved and/or any dispute between the executer making a decision and the approving authority, respective issue will be referred to higher authority. However, it should be remembered that it is preferred to resolve issues without referring them to higher authority. In our company, which level can make what kind of decisions has integrity with authorization regulation.

A mechanism for relations between the holding and the companies is needed. This mechanism is called Executive Boards. Executive Boards will discuss company activities according to policies and targets set and make necessary decisions.

Executive Board members include:

1)      Holding CEO

2)      Director General of the Company and respective Unit Managers depending on meeting agenda

3)      Respective function manager of the holding

Executive Board Decisions are recommendations. Directors General of the Company are responsible for applying these decisions. Meetings will be held at least once a month for each company. Number of meetings can be increased upon request of Executive Board members.

Director General is authorized to decide whether an Executive Board decision will be referred to the Board of Directors by Director General or not.