For corporate sustainability, we adopt a transparent, responsible, fair, and accountable governance approach in line with the Communiqué of the Capital Markets Board of Turkey on Corporate Governance Principles. We are working to implement these principles at all levels, and we measure our performance and report the results to our stakeholders.

Each passing day, we are developing our governance practices in line with modern principles and practices. As a result of these efforts, our Corporate Governance Rating, which was 9.20 in 2018, was raised to 9.26 based on the evaluation of our activities in 2019.

Tofaş Board of Directors consists of 10 members, 2 of whom are independent. The duties of the Chairman and the CEO are carried out by different persons. 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 identifying and managing strategic trends, ensuring the proper functioning of risk management and early warning and control systems, determining corporate targets, ensuring compliance with corporate governance principles, and achieving the expected performance and results in this field.

The Corporate Governance Committee, the Audit Committee, and the Early Risk Detection and Risk Management Committee, that report to the Board of Directors, have an important role in ensuring the activity efficiency of the Board of Directors. 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/en/InvestorRelations/CorporateGovernanceor refer to the Tofaş Annual Report 2019, which is published interactively at ir.tofas.com.tr/2019/en/.