Hayri Culhaci takes over as chair of Sabanci Holding board

Leadership change at one of Turkey's leading conglomerates

In a milestone decision made during its 100th General Assembly, Sabanci Holding, one of Turkey’s most globally recognized conglomerates, appointed Hayri Culhaci as the new Chair of the Board. With this appointment, Culhaci becomes the first non-family, professional executive to lead the board in the company’s century-long history. The change marks a significant point in the company’s governance structure, as longtime chair Guler Sabanci stepped down after 21 years in the role.

Tayfun Bayazit joins the board as independent member

At the same assembly, veteran business figure Tayfun Bayazit was elected to the board as an independent member. Following the general meeting, the board convened to assign responsibilities, resulting in Hayri Culhaci, a board member within Sabanci Group for nearly 35 years, being appointed as the new Chair. While Guler Sabanci remains active in the Sabanci Foundation, Sabanci University, and Sakip Sabanci Museum, she officially handed over her chair responsibilities.

A seasoned figure in Turkish finance

Hayri Culhaci graduated from Ankara University Faculty of Political Sciences in 1978 and earned his MBA from Northeastern University in the United States in 1986. His career began in the public sector, serving as an Account Specialist and later Department Head at the Ministry of Finance between 1979 and 1990. In 1990, he joined Akbank as Executive Vice President. Over the years, he held numerous senior roles including Deputy Chair of the Board, and chaired key committees such as the Audit Committee, Corporate Governance Committee, and Senior Risk Committee. After retiring from Akbank in 2020, Culhaci continued serving on the boards of Aksigorta AS, Avivasa Emeklilik ve Hayat AS, Ak Yatirim Menkul Degerler AS, and Ak Portfoy Yonetimi AS. He currently serves as Deputy Chair of the Sabanci Foundation Board of Trustees.

“A meaningful responsibility in corporate history”

In remarks following his appointment, Culhaci noted the significance of being chosen as chair without being a member of the founding family, describing it as a “meaningful responsibility in corporate history.” He added, “Now, the election of a professional executive who is not a member of the main shareholder family as Chair of the Board represents a significant step in Sabanci’s institutional journey.” He also acknowledged the responsibilities that come with such a position.

He emphasized his commitment to working closely with CEO Cenk Alper and the management team to drive the Group’s businesses forward, particularly through integration of technology and innovation. He said they aim to adapt the best global practices into their operations and prepare Sabanci Group for future generations. Expressing gratitude to Guler Sabanci, he added, “She will always be my primary reference point with her wisdom and insight.”