News

                                                                                                                                                                                                   September 23, 2024, Istanbul

Last week, Pedersen & Partners hosted a CEO Roundtable breakfast in Istanbul, where we had the opportunity to discuss key strategic topics with leading CEOs and regional leaders overseeing markets in Türkiye and abroad.

The discussion was led by Gary Williams – Chief Executive Officer, Michael Al-Nassir – Partner, Head of Private Equity Practice APMEA and Oyal Bayrak - Principal, Country Manager for Türkiye, Pedersen & Partners.

We were pleased to welcome the following attendees: 

• Yenal Gokyildirim - FLO
• Orkun Gül - Avon
• Idris Onay - Benetton
• Eda Uluca Özcan - Pluxee (formerly known as Sodexo)
• Zeynep Yalim-Uzun - Mage Biosciences
• Hülya Yalın - Sanovel

The insights shared during the roundtable reflected the evolving challenges and opportunities in the region. In today’s climate of global uncertainty, the strategies shared underscored the critical need for adaptability, innovation, and effective talent management when doing business in Türkiye. 

Key Takeaways:

1. Scaling and Managing Growth in New Markets:

• Entering new markets from Türkiye is relatively straightforward, but building the necessary infrastructure and systems is challenging.
• Turkish companies struggle with underdeveloped consumer branding and customer attraction strategies.
• Joint ventures with local markets are crucial for navigating local regulations and mitigating challenges in unfamiliar territories.
• There is a shortage of marketing professionals with global expertise; recruiting local talent is essential for market success.

2. Talent Retention Strategies:

• Retaining top talent in Türkiye is a widespread challenge across organisations.
• It is essential to offer competitive compensation and retention packages, and to identify and nurture critical talent.
• Providing growth opportunities through challenging roles and international exposure is a proven effective retention strategy.
• Setting a clear organisational purpose is fundamental for employee loyalty and engagement.

3. Adapting to Economic Uncertainty:

• Effective cash management and cost competitiveness are top priorities.
• Greater flexibility and diversified risk give multinational corporations an advantage over local companies.
• Investment in research, development, and patent-protected products are crucial for long-term success.   

4. Geopolitical Challenges and Opportunities:

• Türkiye’s geopolitical position is viewed as a strategic advantage, offering growth opportunities in neighbouring markets, particularly Saudi Arabia.
• Companies are adjusting to the complex geopolitical landscape to leverage new business prospects effectively.