In line with the Corporate Governance Principles issued by the Capital Markets Board of Turkey (CMB), we manage our corporate sustainability activities in an accountable, transparent, fair, and responsible manner. We strive to use these principles in our sustainability activities at all levels, measure our performance and transparently share the results with the public and our stakeholders.

Based on an assessment of the activities we conducted in 2020, our Corporate Governance Rating was found to be 9.26 thanks to our efforts to improve our administrative practices.

Tofaş Board of Directors consists of 10 members, including two independent members. The titles “Chairman of the Board of Directors” and “CEO” refer to two different positions, which cannot be filled by the same person. CEO is the only member responsible for executive performance and reports directly to the Board of Directors.

The CEO and the senior management of the company are responsible for ensuring the proper functioning of risk management and early warning and control systems, identifying and managing strategic trends, determining corporate targets, ensuring compliance with corporate governance principles, and achieving the expected performance in this field.

The Corporate Governance Committee, the Audit Committee, and the Early Risk Detection and Risk Management Committee report to the Board of Directors, and play an important role in ensuring that the Board of Directors operates effectively. The duties of the Nomination Committee and the Remuneration Committee are also performed by the Corporate Governance Committee.

For more information about Tofaş’s corporate governance structure, you may visit tofas.com.tr/YatirimciIliskileri/KurumsalYonetim or refer to the Tofaş Annual Report 2020, which is published interactively at ir.tofas.com.tr/2020.