Yaşar 2015 Sustainability Report - Yaşar Holding
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Yaşar 2015 21 Sustainability Report 0
Index
02 Chairperson’s Message
03 Chief Executive Officer’s Message
“People should work for contributing to their 04 About The Report
05 Material Sustainability Topics
countries and to the development. It’s the life to me!”
08 About Yaşar Group
08 Yaşar Group At a Glance
09 Our Mission and Corporate Values
10 Corporate Profile
12 Important Developments In 2015
13 Recognitions
Selçuk YAŞAR Caring for Business Caring for Employees
16 Economic Performance 56 Profile of Employees
18 Sustainability Management 63 Employee Rights
20 Corporate Reputation Management 63 Equal Opportunity and Non-Discrimination
20 Stakeholder Dialogue 63 Appropriate Working Conditions
21 Methods of Communication with Stakeholders 65 Rights Offered to The Employees
22 Memberships 66 Employee Development
24 Ethics and Compliance 66 Training and Development Activities
24 Corporate Management 67 Performance Management System
26 Business Ethics 68 Carrier Management System
26 Anti-Corruption Practices 68 Leadership Development Programs
27 Risk Management 69 Occupational Health and Safety (OHS)
Caring for Society 69 OHS Boards
30 Consumer/Customer Health and Safety 70 Work Accidents and Lost Days
31 Increasing Access to Healthy Food Caring for Business Partners
32 Customer and Consumer Informing and Ethical 74 Supply Chain Management
Marketing Caring for Environment
32 Customer and Consumer Satisfaction 82 Environment Management
34 Quality, Innovation and R&D 83 Water Management
34 Quality Management 85 Energy and Climate Change
36 Management Systems 86 Waste Management
38 Innovation and R&D Studies 92 GRI G4 Content Index
40 Sustainable Agriculture and Stock Breeding 96 UNGC Principles
40 Producer Support Programs
42 Animal Welfare
44 Contribution To Local Economy
45 Promotion of Turkey Trademark
46 Community Investment
46 Yaşar Education and Culture Foundation
47 Pınar Institute
52 Sponsorships
53 Yaşar University
Yaşar 2015 Sustainability Report 1
Chairperson’s Message
Chief Executive Officer’s Message
Sustainability Is a Journey We Care for Every Ring of Our Value Chain
Parallel with the rapid change in our world, our The business world is being reduction target for 2020 and have
economic, environmental and social settings subject to a radical change and developed carbon reduction strategies.
are changing rapidly. Therefore, I know and see transformation due to the game- Furthermore we announce average
that it is not possible to be competitive unless changing developments, which can be carbon emission rate of the companies
sustainability is made a part of the business summarized as digitalization, Industry of Yaşar Group every year. Again
systems and decision making processes. 4.0, internet of objects. with this awareness, we have started
water footprint calculations in 4 of our
We always emphasized two points in our The on-going change and
facilities. We recently included Şanlıurfa
sustainability reports, which we prepared transformation affects not only the
factory into the water footprint
and shared in a more comprehensive way in business world, but also the individual
calculations this year. Furthermore, we
comparison with the previous years, since life of each of us. Furthermore, it
prepared our water risk reports.
2009. The first point we have stressed is that brings opportunities that are useful in
sustainability is a journey. This journey can reach better understanding our world and our Believing the importance of
the targeted results when it is made in stakeholders. transparency in sustainability, Pınar has
co-operation with our stakeholders. The second been the first dairy products producer
At this point, the United Nations
is making sustainability a part of our business participating in both CDP (Carbon
defined the sustainable development
processes. Sustainability has to be adopted from Disclosure Project) and CDP Water
concept with a brand new approach
the room of board of directors to the photocopy Program, with these efforts attention
and the targets were determined under
rooms and the entire value chain has to be is drawn to the reduction of risks for a
17 headings. The new approach and
managed with this understanding. sustainable world.
the targets provided important hints
The awareness of sustainability has been raised to the business world to revise its Since the importance of social peace,
through workshops and training programs we strategies. co-operation and mutualization is
have held in our value chain. The expectations of understood better in the world we
As the companies of Yaşar Group,
our stakeholders from us have been understood established the “Yaşar Volunteers
which closely follow up on the
in a better way via face to face or on-line surveys Platform” in order to support the
international developments, we drew
conducted among our stakeholders. Hence, we voluntary efforts and our own
our new roadmap within the frame of
were able to include our shareholders in our volunteers. Upon the completion of our
our Sustainable Development Policy
sustainability journey. volunteers’ training we gave a start for
without compromising our ethical,
the projects which are compliant with
We revised our action plans by reviewing our accountable and honest business
our corporate values. Our main purpose
sustainability strategy. Our regulations, recruitment understanding, which we have
is to benefit from the impact created
processes and all other relevant documents were sustained since our foundation.
by Yaşar companies “for a better life”
reviewed with a sustainability focus. We decided
The companies of Yaşar Group are to meet the social needs. Our studies
to start the Sustainability Competition in order
sharing the value they created “for a carry on aiming to form a project
to increase the number of our good practice
better life” by “caring for” each ring of which utilizes our employees’ voluntary
examples.
the value chain. contribution in the form of time and
While our efforts for struggle against climate labor in such a way that this time and
We are well aware of our responsibility
change in terms of environment sustainability are labor can have even more profound
towards our business, the society,
continuing, our priority is effective resource use, effects on the society.
our consumers, our employees,
especially in terms of water. Empowering women
our environment, customers and We give special importance to our
is in our focus whilst creating a fair and safe work
business partners within the scope of projects, which help to improve the
environment providing equal opportunities.
sustainability. skills and knowledge of our women
While sharing the value that we created “for a employees to empower women.
We know that our responsibility is far
better life” as Yasar Group companies with all our
beyond legal compliance. With this We are very pleased to present Yaşar
stakeholders in the value chain, we will continue
awareness, we voluntarily signed UN 2015 Sustainability Report prepared
providing our safe and high quality products to our
Global Compact in 2007. With this in compliance with GRI G4 reporting
consumers as we have done since our foundation
awareness, we calculate the carbon standard to our stakeholders.
with sustainable business models.
footprints of our 10 companies every
Mehmet Aktaş
Mustafa Selim Yaşar year without any legal obligation.
Chief Executive Officer
Chairperson of Board of Directors We have declared carbon emission
2 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 3
About The Report
Material Sustainability Topics
About The Report Material Sustainability Topics
G4-17, G4-18, G4-27 G4-18, G4-19, G4-20, G4-21, G4-23, G4-24, G4-25, G4-26, G4-27
Yaşar 2015 Sustainability Report covers our approach towards Compilation and preparation of data related with our report In 2015 it was decided to update the existing sustainability priorities of Yaşar Group with a more systematic point of view and a
material topics that are of importance both for the future was performed under the management of Corporate Affairs comprehensive materiality assesment was performed in line with this purpose.
targets of our Group and for our stakeholders as well as our Coordinatorship Department and Extended Sustainable
While determining the material sustainability topics of Yaşar Group, both strategic sustainability priorities and the matters, which
studies and performance in 2015. Development Committee, with the contributions of the
the stakeholders of Yaşar Group companies consider to be material, were taken into consideration.
relevant units of the companies, acting within Yaşar Group
Yaşar Group, which issued the Communication on Progress
and included in the report scope. The report is not subjected Yaşar Group Materiality Assesment Stages
Reports in 2009 and 2010 and thereafter, “Yaşar 2011”
to external audit. Mikado Sustainable Development Consulting
“Yaşar 2012”, “Yaşar 2013” and “Yaşar 2014” Sustainability
supported the preparation of the report.
Reports, performs its reporting works within the frame of
UNGC principles and Global Reporting Initiative-GRI criteria. The works carried out under the leadership of our 1. Determination of the Relevant
Yaşar 2015 Sustainability Report has been prepared using the Chairperson of Board of Directors, involved the following; Sustainability Topics
GRI G4 Guidelines-Core option. The Report also uses GRI G4
• Extended Sustainable Development Committee,
Food Processing Sector Disclosures. With this Report, we also
declare our commitment to the UNGC Principles. • Sustainability Reporting Team Members,
Yaşar 2015 Sustainability Report includes the activities and 2. Determination of Sustainability Topics That Have 3. Determination of Sustainability Topics
• Carbon and Water Leaders,
projects performed in the country by 10 domestic companies, Strategic Priority for Yaşar Group That are Material for the Stakeholders
which are listed under the title Corporate Profile, between • Carbon and Water Footprint Teams.
the dates 01.01.2015-31.12.2015. The companies included in
The process related with the determination of material
our Group, but based in abroad are not included in the report
topics included in our report is shared under the heading
scope. 75% partnership share of Dyo Printing Inks, which is 4. Consolidation of Results and
“Sustainability Priorities”.
among the subsidiaries of Yaşar Holding, was sold to Toyo Preparation of Materiality Matrix
Ink SC Holdings Co. Ltd. On January 15th 2016. The activities We are very happy to submit our Report, which is prepared in
of Dyo Printing Inks in 2015 are also included in the scope of Turkish and English, to you.
the report. 1. Determination of Relevant Sustainability In this context, face to face interviews were made with 4
Your feedbacks are important for us … members of Yaşar Holding Board of Directors. The board
Topics
In addition, the content of the report also comprises members were asked to choose and rank the sustainability
You can direct any kind of opinion, recommendation and
Yaşar University founded by Yaşar Education and Culture While determining the relevant sustainability topics, GRI G4 topics having strategic importance for Yaşar Group.
question you may have about Yaşar 2015 Sustainability
Foundation and Selçuk Yaşar Sports and Education Sustainability Reporting Guidelines, GRI Food Processing
Report published by Yaşar Group to 19 people, who are in top level management in Yaşar Group
Foundation and Pınar Institute. Data generally presented in Sector Disclosures and “Sustainability Topics for Sectors:
forabetterlife@yasar.com.tr.
the report, however, are not related to those entities. Their companies and who are decision makers, participated in Yaşar
What Do Stakeholders Want to Know?” report issued by GRI,
activities are included in the report only for information Group Top Management Materiality Workshop. As the result
as well as the dynamics in the sectors, where Yaşar Group
sharing purposes. of long assessments, the sustainability topics having strategic
companies act, and the economic, social and environmental
priority were determined from the eyes of top management.
impacts of those sectors and Yaşar Group’s economic, social
and environmental impacts and the feedbacks received from While prioritizing the topics, the economic, social and
the stakeholders directly or indirectly in time, have been environmental impacts created by Yaşar Group; the risks and
used. opportunities created by the relevant sustainability topics;
the reflection of the topics on the long-term performance of
2. Determination of Sustainability Topics Having the company were among the matters that are taken into
Strategic Priority for Yaşar Group consideration.
Discussions and workshops were held at the level of Consolidating the priorities of Board of Directors and Top
both Board of Directors and Top Management in order to Management, the sustainability topics that are found to have
determine the topics having strategic priority for Yaşar Group. strategic priority for Yaşar Group were determined.
4 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 5
Material Sustainability Topics
Material Sustainability Topics
3. Determination of Sustainability Topics That are Material for the Stakeholders 4. Consolidation of Results and Preparation of Materiality Matrix
G4-18, G4-19, G4-20, G4-21, G4-23, G4-24, G4-25, G4-26, G4-27 G4-18, G4-19, G4-20, G4-21, G4-23, G4-24, G4-25, G4-26, G4-27
Yaşar Group, which acts in many sectors, has a very wide stakeholder network. In order to determine the material sustainability Yaşar Group Materiality Matrix is created by placing the topics having strategic importance for our Group and the topics having
topics for our stakeholders, different stakeholder dialog tools were used in compliance with the nature of the stakeholder group. priority for our stakeholders into the matrix.
In this context; Yaşar Group Materiality Matrix
• A total of 212 stakeholder group representatives were accessed through 9 workshops.
low
• Face to face interviews were made with 13 public representatives and 6 NGO representatives, corresponding to a total of 19. Protecting Natural and Cultural
Inheritance
• The representatives of a total of 73 institutions were accessed through 9 two-stage online questionnaires. Animal Welfare
Bio-Diversity
The stakeholder groups to be included in the materiality assesment were determined together with our Group companies, Preventing Corruption and
Social Investments
Contribution to
Unfair Competition
Emissons
taking the effect and accessibility factors into consideration, and care was paid to select the person and institution to be Local Economy
Environmental and Social
Compliance of Suppliers
interviewed so as to represent the stakeholder group. Diversity, Equal Opportunity and
Non-discrimination
Investments and Payment for Environmental
The list of our stakeholder groups, which participated in Yaşar Group materiality assesment, their distribution to our sectors of Ethic and Compliance Protection
Importance for Stakeholder
activity and the stakeholder dialog tool used are given in the following table. Sustainable Purchase
Sustainable Agriculture and Stock Breeding
Yaşar Holding Food and Beverage Coating Tissue Papers Trade and Service Water Management
Group Group Group Group Waste Management
Employees Employees Employees Employees Employees
Employee's Development
Economic Performance
(workshop) (workshop) (2 workshop) (workshop) (workshop)
Consumers Coating Masters Customers Customers* Employees' Rights
Energy Efficiency
(2 workshop) (workshop) (online questionnaire) (online questionnaire)
Customers Direct Customers Suppliers Consumer/Customer's Health and Safety Occupational Health and Safety
(online questionnaire) (online questionnaire) (online questionnaire)
Quality, Innovation, R&D/Product and Service
Suppliers Dealers Excellence
high
(online questionnaire) (online questionnaire)
Civil Society Suppliers
high low
(online questionnaire) (online questionnaire) Strategical Importance
Public Civil Society In accordance with this, the list of the sustainability topics are material for Yaşar Group and their scopes are given in the
(face to face interview) (face to face interview) following table.
Public
Material Sustainability Topics Scope
(face to face interview)
Quality, Innovation and R&D Yaşar Group Companies
*Since a sufficient number of stakeholder representatives could not be accessed, the results are not included in the materiality assesment.
Consumer/Customer Health and Safety Yaşar Group Companies
The relevant sustainability topics were shared with our stakeholders through the performed workshop, face to face interviews Economic Performance Yaşar Group Companies
and questionnaires and they were asked to rank the topics they consider to be material. Furthermore, sustainability training Ethics and Compliance Yaşar Group Companies
was provided for the participants at the workshops, hence a better efficiency was ensured in the workshops. The studies have Employee Rights Yaşar Group Companies
been very useful in terms of understanding the expectations of the stakeholders from Yaşar Group, as well as learning their Employee Development Yaşar Group Companies
recommendations and strengthening our dialog with our stakeholders. Occupational Health and Safety Yaşar Group Companies, Sub-contractors
The obtained results were grouped and consolidated on company basis, hence, the sustainability topics, which our stakeholders Equal Opportunity and Non-Discrimination Yaşar Group Companies
consider to be material, were determined. Sustainable Agriculture and Stock Breeding Yaşar Group Companies, Farmers
Sustainable Supply Chain Management Yaşar Group Companies, Suppliers
Water Management Yaşar Group Companies
Energy and Climate Change Yaşar Group Companies
Waste Management Yaşar Group Companies
While determining the contents of Yaşar 2015 Sustinability Report, the sustainability priorities of Yaşar Group were taken as
basis. Some topics, which have relatively low priority in Yaşar Group Materiality Matrix were included in the report to the extent
they are related to the topics that are determined to have high priority.
6 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 7
About Yaşar Group
About Yaşar Group
About Yaşar Group
Yaşar Group At a Glance Our Mission and Corporate Values
Corporate Profile The Group’s principal business lines consist responsibility projects. Yaşar University is Our values within the frame of our mission,
of food and beverages and of coatings. With among the leading universities of Turkey with which is defined as adding value to the
Corporate Name 20 companies, 24 factories and facilities, 2 its education in line with the international lives of consumers by providing high quality
Yaşar Holding A.Ş. charitable foundations, and approximately standards. products and services with our trusted brands
7500 employees the Group is also active in are: Our Consumers and Customers Come
Business Segments The Yaşar Group also creates social benefit
business lines such as tissue paper, tourism, First, Our Operational Excellence, Our Human
Food-beverages, coating, with the involvement of corporate social
energy, trade and services. 6 of Yaşar Resources, Our Ethical Stance and Our
agricultural production, responsibility projects. Based on the
Holding’s subsidiaries are traded on the Environmental and Social Responsibilities.
tissue paper, trade awareness of being a corporate citizen all of
Borsa Istanbul: Pınar Dairy, Pınar Meat, Pınar Yaşar Holding Sustainable Development
services, energy our efforts touching people in their daily life
Water, Dyo Coating, Viking Tissue and Altın Policy has been defined on the basis of
are aimed at having a sustainable world with
Number of Employees Yunus. The head office of Yaşar Holding A.Ş. our mission and values. Following the
the motto of “for a better life”. In this regard,
7.500 is located in İzmir. international developments with the principle
our Group manages all business processes
of not compromising our ethical, accountable
Date of GC Membership The Yaşar Group has been a pioneer in on the sustainability axis and reports those Following the
and honest business understanding and
November 12th 2007 Turkey with its two best-known brands most activities under the principle of transparency. international
serving to the sustainable development
noticeable by consumers. Our Group which By joining the signatories of United Nations
targets are the main foundations. Allowing
developments with
Address leads the sectors in which it is included has (UN) Global Compact (GC) in 2007 Yaşar
our employees to improve themselves while the principle of
Şehit Fethi Bey Cad.
No:120 35210 Izmir, Turkey
realized important investments with Pınar Group prepared its Communication on
providing a fair working environment for not compromising
and Dyo brands supported by TURQUALITY® Progress Reports in 2009 and 2010 within
them, supporting the local while providing our ethical,
Program. the frame of UNGC. Sustainability Reports
Authorized Person and high quality products and services for the accountable and
Position are accessible at www.yasar.com.tr and have
The Group, which was opened to the
been issuing every year since 2011.
needs of the society, protecting the local honest business
Dilek EMİL, values, contributing to the progress of
international markets in 1970s for the first understanding
Coordinator, society with the collaborations we developed
time, is competing with the world trademarks Empowering of women is one of the most and serving to
Corporate Affairs in Europe with Pınar Foods GmbH, which was are the other elements of our Sustainable
important item in our agenda that we focus the sustainable
founded in Germany in 2000. Pınar reaches on and follow closely. Increasing the personal Development Policy. While performing all
Contact Details
those activities, our priority is to measure
development
the consumers of Middle East and the Gulf and professional progress of the both our
Phone region with HDF FZCO, which was founded in our environmental impact, to improve it, and targets are the
women employees and the women included
+90 312 294 92 00 Dubai in 2000. in our supply chain is among our targets. to contribute to the protection of natural main foundations.
Our support continues to empower the resources. Furthermore, it is indispensable
E-mail Dyo Coating is continuing its investments for our Sustainable Development Policy to
women through the initiatives in which we
dilekemil@yasar.com.tr abroad with Dyo Balkan (Romania), Kemipex continue supporting the improvement of
take apart. With this regard “CEO Support
(Russia) and Dyo Africa (Egypt), which are its new generations through investments in
Declaration for UN Women’s Empowerment
affiliated partnerships acting abroad. education, culture and art in the future, as in
Principles” was signed in 2012. “The Equality
at Work Platform”, which is brought to the the past.
Our Group gives importance to social
development as much as economic agenda by the World Economic Forum, and
Within the frame of our Sustainable
www.yasar.com.tr development, by supporting education, which is continued under the leadership of
Development Policy, Yaşar Group companies
sports, culture and art through Yaşar the Ministry of Family and Social Policies, and
is sharing the value it created “for a better
Education and Culture Foundation and Selçuk the “Work Group for Empowering of Women”
life” by “caring for” each ring of the value
Yaşar Sports and Education Foundation, and that is founded by Global Compact Turkey
chain.
is producing social benefits with the social Board of Directors are among the formations,
in which our Group is included.
www.unglobalcompact.org/
participants/detail/10228-Yasar-
Holding-Co-
8 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 9
About Yaşar Group
About Yaşar Group
Corporate Profile
Food & Beverages Coatings Tissue Papers Trade and Service
Group Group Group Group
Yaşar Birleşik Dyo Boya Altın Yunus Çeşme
Pınar Süt Mamulleri Pınar Entegre Et Pınar Su Sanayi ve Çamlı Yem Besicilik Viking Kağıt ve Yaşar Bilgi İşlem ve Desa Enerji Elektrik
Pazarlama Dağıtım Fabrikaları Sanayi Turistik Tesisler
Sanayii A.Ş. ve Un Sanayii A.Ş. Ticaret A.Ş. San. ve Tic. A.Ş. Selüloz A.Ş. Ticaret A.Ş. Üretim A.Ş.
Turizm ve Ticaret ve Ticaret A.Ş. A.Ş.
(Pınar Dairy) (Pınar Meat) (Pınar Water) (Çamlı Feed) (Viking Tissue) (Astron) (Desa)
A.Ş. (YBP) (Dyo Coating) (Altın Yunus)
Publicly Traded Publicly Traded
Foundation Year 1973 1985 1984 1983 1983 Foundation Year 1954 1969 1974 1983 1996
Headquarter Izmir Izmir Izmir Izmir Izmir Headquarter Izmir Izmir Izmir Izmir Izmir
Izmir, Istanbul, Izmir, Kocaeli,
Factory Izmir Izmir(3) Izmir(4) Izmir(3)
Antalya, Bodrum/ Manisa
Izmir, Eskişehir, Aydın, Sakarya,
Factory Izmir Muğla, Adana, Izmir, Manisa(2) 1.021
Şanlıurfa Isparta, Bursa
Ankara, Trabzon, Total Capacity 260.000 ton/year 45.800 ton/year person/ 10,4 mW
Samsun(1) accomodation
310.000 ton/year Dyo, Dewilux, Premia, Lily, Senso,
Brands Astron
Total Capacity raw milk in 58.000 ton/year 1.800.000 ton/year 322.048 ton(5) 335.000 ton/year Casati Select, Pufla
processing # of SKU 15.700 141 3
Çamlı, Pınar Balık, Employment 1.060 369 238 110 21
Pınar,
Brands Pınar Pınar Pınar Biofarm, CoolDog, Distribution and 220 dealer +
Nar’ca 800 dealer Aegean Region
Bioaqua Service Network direct customer
# of SKU 500 500 16 600 396 www.altinyunus. www.desaenerji.
Web www.dyo.com.tr www.viking.com.tr
com.tr
www.astron.ws
com.tr
Employment 1.172 1.092 452 1.187 467
EU Countries, Central
100+ dealer,
Distribution and 566 dealer, Asian Republics,
via YBP via YBP 150.000'e sales 209 dealer EU Countries, Gulf Germany, Balkans,
Service Network 12 distributor Africa,
point Foreign Trade Countries, Middle England, Greek,
Central America,
Web www.pinar.com.tr www.pinar.com.tr www.pinarsu.com.tr www.ybp.com.tr www.camli.com.tr East, Africa Scandinavia, Iran(6)
Middle East and Gulf
EU Countries, USA,
Countries
Gulf Countries, Middle East and Gulf EU Countries,
EU Countries,
Turkic Republics, Countries, Russia, Middle East and Gulf (1) Regional Directorates
Foreign Trade Gulf Countries, USA,
(2) Factories & Plant
USA, EU Countries, Turkic Republics, Countries, Russia,
Far East (3) Plant
TRNC Far East, TRNC, USA, Far East
(4) Offices
Australia, Canada
(5) Total Sale Amount
(6) Customers’ Country Origins
10 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 11
About Yaşar Group
About Yaşar Group
Important Developments In 2015 Recognitions
Dyo Coating • Improvement of Animal which includes caring, feeding, and • Yaşar Holding has been one of the companies awarded by • In the research on the “Most Favored Companies of
Welfare: With the investment and breeding to produce healthy and high the Ethical Values Center Association with “ETİKA Ethics Turkey”, which was held by GFK and Capital Magazine,
Dyo Coating which ranked 145th rising infrastructure works performed in the quality raw milk. Awards of Turkey 2014”. Pınar Dairy was the most favored company in the “Dairy
12 steps in the ranking of 500 Big cattle slaughterhouse and paddocks, Products” sector.
• Yaşar Holding was awarded by the Sustainable Production
Industrial Organizations of Turkey, Cleanroom and packaging investments
our animal health and welfare and Consumption Association and Energy Efficiency • Aegean Region Chamber of Industry (EBSO) Award
which was announced in 2015 based were made for new product series such
practices reached to the top level. Association with “Low Carbon Hero” prize, due to the Ceremony assessing 2013 performance was held on
on the numbers of 2014. On the other as “On the Go” and “Open and Eat Up”
As a result of third party audit our carbon reduction works carried out in the scope of its January 16th 2015. Pınar Dairy, Pınar Meat and Pınar Water
hand according to the “Fortune 500 in Izmir Factory. New line investments
systems excellence was verified. sustainability approach. were awarded with a total of 12 prizes. Pınar Dairy was
Turkey” list announced by Fortune were made for “UF Cheese” product in
• Altın Yunus was honored with the International Blue Flag awarded as the winner in the following categories: “Highest
Turkey Dyo Coating with the 2014 net Pınar Water Eskişehir Factory.
Award in 2015 due to its full compliance with the Blue Flag Export”, “Highest Investment”, “Highest Production”
sales figure has risen to the 222nd rising Believing the importance of and “Provision of Highest Employment in Production”.
In December, 2015, Bursa facility for criterias such as the cleanliness of the beach and sea water,
one step. transparency in sustainability, Pınar Furthermore, it has become the fourth in the category
Natural Spring Water with Recyclable the equipment and services of the facility, environmental
Package was opened. By this way, our Dairy has been the first dairy products management approach and environmental training hold by of “Big Firm Success Award In Tax”. Pınar Meat was
Pınar Meat
recyclable product capacity increased to producer participating in both CDP Altın Yunus. awarded in the meat, fish and meat products industry with
• İzmir, Kemalpaşa-Ören Breeding 568.000 tons/year from 335.000 tons/ (Carbon Disclosure Project) and CDP the winning prize in the categories of “Highest Export”,
• Altın Yunus was awarded with Zoover Bronze prize by
Farm: Cattle breeding was decided year, with a 70% increase. Water Program. It ranked first among “Highest Investment”, “Highest Production” and “Highest
Zoover Travel Comments Site in 2015.
in 2015 to make sustainable raw the volunteers in CDP 2015 Climate Employment in Production”. Furthermore, it has become
Pınar Dairy • Pınar was awarded with the Superbrands prize given to the
materials available for supply chain. Change Turkey Report. the second in “Big Firm Success Award in Tax” category.
best trademarks of Turkey in 2015.
The existing paddock areas were • Pınar Water has been awarded as the runner-up in
In 2015, a new dairy plant investment Viking Tissue • Pınar was awarded with three prizes by Stevie Awards,
re-designed so as to ensure animal Beverage Industry Profession Group in the categories
has been taken in to operation which is among the most reputable awards of the world.
welfare and the works were started In 2015, modernization works were of “Highest Investment” and “Highest Employment in
in Şanlıurfa, which is the largest Pınar Childrens Theater was awarded with Silver Stevie
in April, 2015. Approximately 20.000 performed in Viking Tissue on PM1 Production”.
food investment ever made in the in “Europe Corporate Social Responsibility Program of the
m paddock areas and auxiliary
2
(Paper Machine 1). As a result, the • In the Crescent and Stars of Packaging Competition 2015,
Southeastern Anatolia region. We Year”. Pınar Institute’s Project Sütümüzün Geleceği Bilinçli
enterprises were completed in machine capacity was increased by Pınar was awarded with the silver prize in graphic design
produce milk, ayran and fruit juice Ellerde (The Future of our Milk is in Conscious Hands) was
August. Upon completion, the 20%. category with its Special Cheese Family.
in this plant. This plant is designed awarded with Bronze Stevie in the “International Business
first lot of breed was taken to the
to accommodate the increase in the YBP Awards” category. Pınar Painting Contest was awarded with • In 2015 Effie Turkey Advertisement Activity Contest, which
farm. For the full integration of the
diversity of products according to Bronze Stevie in the section of “Communication Campaign was held by the Advertisers and Clients Association, Pınar
breeding farm a biogas facility has In 2015 YBP established an important
needs, by using energy efficient and of the Year-Media Relations”. Milk for Children was awarded with “Silver Effie” with the
been projected to be realized to co-operation with Kahve Dünyası which campaign “Triple Support for the Nutrition of your Child” in
nature-friendly technologies with full • Pınar Dairy Izmir Plant was awarded as the most efficient
produce renewable energy with an is one of the leading cacao and coffee the “Basic Food” category.
automation. The Company increased its industrial enterprise decreasing energy density by 65.3% in
environmental friendly approach. producers of the world to sell and
raw milk processing capacity by 18% the food and beverage sector by the Ministry of Energy and • Pınar became the first winner of the Gulf 2015 “Product of
distribute its products.
• The investment on a closed area upon completion of this investment. Natural Resources in the 15 Project Contest on Industrial
th the Year” prize. This contest awards the world leading firms
of 6.500 m2 including “Auxiliary Pınar Dairy purchases raw milk from In the same year, organizational Energy Efficiency. in fast moving consumer goods category every year. Labne
Material Warehouses, Product Şanlıurfa as well as other surrounding structure and work models were (mild cream cheese) is one of the category opened for the
• As a result of the research on “Measurement of Reputation
Warehouses, Production Building, provinces and districts. We held changed to respond to the structural first time this year.
and Trademark Value Performance” made by both
Social Facilities, Cooling Supply trainings for all producers in the region market modifications. Restructuring Marketing Turkey Magazine and Akademetre Research • Viking Tissue was awarded with 5 prizes by EBSO in
Building” was completed and by the participation of Pınar Institute was made to increase the focus and Company, Pınar was awarded with “Leadership in Beverage January 2015. Viking was awarded with “Superior Sale
commissioned in March, 2015. and Çamlı Feed. performance on Consumption Outside Sector” in “Integrated Marketing Price”. Performance” and Runner-up Prizes for Production, Export,
Sustainable improvement on food Home (COH). Furthermore new Employment, and Investment in the Tissue and Tissue
Our target is to make contribution to • Pınar Balık, was awarded with “Superior Taste Award” by
safety, occupational health and arrangements have been embraced Products Industry.
the development of dairy sector in the ITQI (International Taste and Quality Institute), which
safety, environment and energy with the expectation to increase
region through our training meetings was performed with the blind tasting test of the chiefs and
management has been achieved the service quality and efficiency in
sommeliers, who are opinion leaders in their area.
through this investment. distribution lines.
12 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 13
“Following the path of science, and constantly
improving ourselves producing the best.
That’s why we exist.”
Selçuk YAŞAR
Caring for Business
Economic Performance
Economic Performance
Economic Performance
2015 was a difficult year for both the world and Turkey Even if it has become difficult to reach the export targets 31.12.2015 31.12.2014
especially since developing countries’ shares on the growth due to the developments in the nearby geography and the Directly Produced Economic Value 3.197.930 2.965.811
have been decreased. However Turkey manage to grow diminishing demand in Russia, Azerbaijan and Northern Iraq - Incomes 3.197.930 2.965.811
with a very low rate despite the volatility in cross-rates and Markets, we managed to export to more than 70 countries in Revenue (net sales) 3.197.930 2.965.811
interests and besides the risks and uncertainty experienced 2015, to obtain a 2% and a 10% percent growth in coatings
Distributed Economic Value 2.965.953 2.774.674
for a long time in the region. The decreases in the commodity and food and beverage business lines respectively.
- Operational expenses *** 2.578.070 2.419.253
prices have resulted in a positive impact for our country as a
Besides that, a 24% (TL 128 million) increase was ensured in - Wages and fringe benefits **** 336.307 312.494
net importer in raw material.
investment comparing to 2014. A total investment of TL 158 - Payments to the shareholders ***** 37.381 29.464
On the other hand, 2015 has been a year, during which million was made in 2015, consisting of 77,7% in the Food - Payments to the States (on country basis) ****** 14.195 13.463
our Group performed controlled growth. With the existing and Beverage Group, 13,3% in the Coatings Group, 4,6% in Retained Economic Value 231.977 191.137
conditions, Yaşar Group was focused on stable markets Tissue Papers Group and 4,4% in other areas.
rather than risky products and customers and has exhibited
With the sale of 75% of Dyo Printing Inks, which is one of - The amounts are in Turkish Liras (“TL”) unless otherwise specified.
a prudent attitude. Our priorities have been efficiency and
the subsidiaries of Yaşar Holding, to Toyo Ink SC Holdings - The information based on 2015 Yaşar Holding Consolidated Independent Audit Report.
cost optimization, working capital and effective liquidity
Co. Ltd, which is among the leading ink producers of the *** The cost of the sales, marketing expenditures, general management expenditures and R&D expenses in the consolidated income tables have been taken as
management, healthy management of competition and operational expenses.
world, we expect an increase in business volume both in the **** The personnel expenses are included in Footnote 29 of the consolidated report are taken into consideration within the scope of the wages and fringe benefits
market risks.
domestic and foreign markets. of the employees.
***** The paid dividend amount in the cash flow table of the consolidated report is used for payments to shareholders.
The Group taking into consideration of all its stakeholders,
****** The amount of taxes paid in advance in Footnote 38 of the consolidated report is used in the item of payments to the States.
operates with a transparent, fare, accountable and
responsible manner has had a net sale of 3.198 million TL in
2015. While 72,7% of those sales came from the Food And
Beverage Group, 21,9% of it from the Coatings Group. The The Capital Structure of Yaşar Holding A.Ş as of December 31st 2015 and 2014
rest was shared within the Tissue Papers Group and the trade
and Service Group with 4,1% and 1,3% respectively.
Shareholders Share (%) 31 December 2015 Share (%) 31 December 2014
Hedef Ziraat (*) 67,06 151.510 67,03 151.460
Members of Yaşar Family 23,74 53.640 23,74 53.640
Other 9,2 20.793 9,23 20.843
Total Capital 100 225.943 100 225.943
Capital Correction 177.339 177.339
Total Paid Capital 403.282 403.282
(*) The main partner of Hedef Ziraat is Yaşar Family.
There are 22.594.316.100 (December 31st 2014: 22.594.316.100 shares) shares, each being worth of 1 Kr. There is no privilege applied for different share groups
and certain shareholders. All of the issued capital is paid.
16 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 17Sustainability Management
Sustainability Management
Sustainability Management
Our Sustainability Development Policy In this respect, we disseminate the ethical, accountable and Group in a general sense. In the meantime the Committee was established in 2015 in order to transform the knowledge,
honest management understanding, which are in compliance assesses the risks and opportunities to improve the skills and experiences of the employees into social benefits.
Our values within the frame of our mission, which is defined
with the Sustainable Development Targets, and we continue sustainability strategy and the implementation tools. Another
as adding value to the lives of consumers by providing high The Executive Board of Yaşar Volunteers Platform which is
to operate by taking into consideration the needs of the target of the Committee is to have employees who are
quality products and services with our trusted brands are: responsible for structuring, started working to attract the
consumers and the society. In the Group, we give a big trained for taking a part in the sustainability process. All the
Our Consumers and Customers Come First, Our Operational employees for voluntary projects. First, a questionnaire
importance to the development of the employees and their assessments raised in the regularly hold meetings are being
Excellence, Our Human Resources, Our Ethical Stance and was shared with more than 2,000 employees in the Group
happiness. reported and actions are taken to meet the emerging needs.
Our Environmental and Social Responsibilities. and later a training session was held for the first group
Furthermore, our sustainability activities are also supported
Being aware of our ecological footprint and especially our of the employees who declared their interest in becoming
Yaşar Holding Sustainable Development Policy has been by the Committees on Energy and Prevention of Waste.
carbon and water footprint we try to observe a balance volunteers. Following the training session, the volunteers
defined on the basis of our mission and values.
between the use and protection of the environment knowing In the sustainability works of our Group, the international started developing their own projects with the intention of
Based on the principle of “not compromising our ethical, the fact that we are responsible for the way of how our norms and criteria are taken as a reference. Thus, the Group realizing their first project in the year 2016.
accountable and honest business understanding” business partners operate in our value chain, we work on joined the signatories of UNGC in 2007 and prepared its
“following the international developments and serving to improving their awareness on this issue. Communication on Progress Reports in 2009 and 2010. GRI
the sustainable development targets with our business (Global Reporting Initiative) standard has been adopted
Based on the sustainability policy, our strategy and the
lines” by our Group emphasizing the importance of an open
targets are determined and supported at the level of Board of
communication with the stakeholders. Hence Our Yaşar 2014
are the main foundations of Yaşar Holding Sustainable Directors. The implementation of this strategy is ensured by
Sustainability Report was graded at B level by GRI in the
Development Policy top management.
scope of G3.1 criteria in 2015.
“Allowing our employees to improve themselves Our Group, originating from the understanding “you cannot
The data included in our Sustainability Reports is provided
while providing a fair working environment for them”, manage what you cannot measure”, has formed Carbon and
by the Sustainability Reporting Team Members, Carbon and
“supporting the local and protecting the local values, while Water Footprint Teams and designated the leaders for the
Water Leaders and the Teams.
providing high quality products and services for the needs sake of carbon and water footprint calculations.
of the society”, Based on the “caring for society and our employees”
The greenhouse gas inventory management system practices,
understanding, which is an indispensable part of our
“with the help of our developed collaborations which were launched in 2014 and which allows gathering
sustainability strategy, projects are being developed for
contributing to the progress of society“, the data on the Group companies in a single system and
the personal and professional improvement of our women
their instantaneous follow-up, were completed and their
employees and the women involved in our supply chain.
“while performing all activities being sure to measure application was started in 2015. Our target for the next
“CEO Support Declaration for the UN Women’s Empowerment
our environmental impact, to improve this impact and to period is to complete the water footprint management system
Principles” signed in 2012; “Equality at Work Platform”, which
contribute to the protection of natural resources”, and to make the calculations online for instant follow up.
was brought to the agenda by the World Economic Forum,
“continue to support the improvement of new generations Sustainable Development Committee was established as a and carried out with the leadership of the Ministry of Family
through investments in education, culture and art in the result of “Corporate Reputation Project”, launched in 2010. and Social Policies; and the “Work Group on Empowering
future, as we did in the past”, Sustainable Development Committee has been functioning of Women” established by Global Compact Turkey Board
according to the priorities set up in the leadership of Board of of Directors are very inspiring in the development of these
are the essentials of our Sustainable Development Policy. projects.
Directors.
Within the framework of Sustainable Development Policy as The Group adopted a new structure for the corporate
While ensuring the coordination of sustainability works,
Yaşar Group we share the created value “for a better life”, voluntary activities which will directly contribute to the
the Sustainable Development Committee encourages the
By “caring for” the “society, our consumers, employees, implementation of the sustainability strategy, by fulfilling development of the social dimension of sustainability with the
environment, customers and business partners in our targets and adapting the sustainability approach with in the understanding of caring for society. Yaşar Volunteers Platform
value chain”.
18 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 19Corporate Reputation Management - Stakeholder Dialogue
Methods of Communication with Stakeholders
Corporate Reputation Stakeholder Dialogue Methods of Communication with Stakeholders
G4-24, G4-26
Management G4-24, G4-25, G4-26
Stakeholders Communication Platforms Communication Frequency
Corporate reputation management has reached a much Due to the sectoral necessities of our Group we have
more strategic point for the organizations with the increasing established a network which consists of a wide range of Trainings, Yaşar Academy Training
awareness level of the consumer and the diversification in stakeholders, where mutual interactions are at its origins.. Platform, employee opinions
the communication channels. Today, new channels rising questionnaire, bulletins, internal
We are developing long-term collaborations and establishing communication materials,
over the Internet are added to the traditional communication
open communication with our suppliers, shareholders, public Our Employees recommendation systems such as Dyo Regular/Frequent
tools, hence, corporate reputation management found a new
institutions and organizations, international organizations, Red Chair practice, competitions, social
ground for itself.
sector associations, NGOs, universities, printed and visual activities such as "Pınar'a Gidiyorum"
While Internet technologies are developing at an media, and especially our employees, customers, consumers (I’m going to Pınar), sustainability
unprecedented pace, this situation has also resulted in and business partners. Our stakeholders, with whom we are reports
conditions which are difficult to manage. The information in interaction, are engaged with the feedbacks of the relevant
Satisfaction questionnaires, telephone
flow coming from hundreds of different sources requires the departments of our companies and taking into consideration
calls, communication and call centers,
companies to take rapid actions for the sake of reliability of the sectors, in which the companies of our Group act. We are Our Consumers Continuous/Frequent
social media accounts, sustainability
such information. regularly reviewing our stakeholder map and communication
reports
methods. We believe stakeholder feedbacks as valuable
Yaşar Group companies, are continuing corporate reputation guides in the development of our method and processes of Annual reports, sustainability reports,
management over all channels by taking into consideration business. CDP Climate Change Report, CDP Water
the opinions of its stakeholders and integrating the Our Investors and Shareholders Report, investor presentations, general Regular
obtained results to the business processes and corporate board meetings, Internet sites, which
approach. The Group aims to provide correct information also include Investor Relations modules
to the consumers and customers by taking rapid actions
Supplier trainings, dealer meetings
for any expectation and needs. Our Group, which has a
and trainings, factory visits, customer
settled culture in terms of good governance, business
visits, satisfaction questionnaires,
ethics, corporate values and social contribution, follows a
Our Customers, Suppliers and participated congresses, meetings and
communication policy that is based on transparency and Regular/Periodic
Dealers panels, telephone calls, communication
reliability under all those headings.
and call centers, dealer portal,
Different venues which enable the participation of our dealer satisfaction questionnaires,
employees in every step of the corporate reputation efforts sustainability reports
are of high importance to our Group companies. Visits, legislation opinion notifications,
Public Agencies and Organizations, sector meetings, congresses,
Originating from the fact that corporate reputation
NGOs and Associations of conferences and seminars, developed Regular/Frequent
management has to be monitored with a systematic
Membership joint projects, sector reports,
structure, “Corporate Reputation Project” was launched in
sustainability reports
2010 and Corporate Reputation Committee was established in
this context. Press bulletins, visits, press meetings,
Media Regular
launchings
Carrier days, conferences and panels,
activities of university clubs and
Universities Regular
societies, internship opportunities
provided in the Group companies
Collective Bargaining Agreements,
Union union representation, factory visits, Regular
meetings
20 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 21Memberships
Memberships
Memberships
Our Group companies believes in co- Adana Commodity Exchange Bursa Chamber of Commerce and Global Relations Forum People Management Association of Turkish Poultry Meat Producers and
operation depending on deliberation Industry Turkey Breeders Association
Aegean Exporter Unions* International Chamber of Commerce
and simultaneous growth with the
Bursa Commodity Exchange Professional Association of Musical Turkish Quality Association*
stakeholders, which eventually results Aegean Industrialists and Isparta Chamber of Commerce and
Carton Board Packaging Expositor Turkish Spas Thalasso and Health
in sustainable values. We therefore Businessmen’s Association Industry
Manufacturers Association Proffesional Association for Owners of Resorts Association
are in cooperation with the sectoral Aegean Region Chamber of Industry Istanbu Chamber of Commerce
Cattle Breeders’ Association of Turkey Musical Works Turkish Veterinary Medical Association
NGOs where Yaşar Group companies Aegean Region Chamber of Industry Istanbul Chamber of Industry
Proffesional Association of Eligible
are active and in which we present Foundation Central Anatolian Exporters Union Turkish-African Business Council –
Istanbul Commodity Exchange
Producers of Phonograms Related to
contribution to the local, regional and Aegean Touristic Business and Chamber of Agricultural Engineers Foreign Economic Relations Board
Istanbul Mineral and Metals MUYAP
sectoral development through these Accomodation Association Turkish-American Businessmen
Chamber of Chemical Engineers Exporters' Association Pulp and Paper Industry Foundation*
NGOs. Aliağa Chamber of Commerce Association
Chamber of Electrical Engineers Izmir Beef and Lamb Producers
Sakarya Chamber of Commerce and Turkish-Eygpt Businessmen
Besides mandatory memberships, Aluminium Surface Treatment Association
Chamber of Food Engineers Industry Association
such as chambers of commerce, the Association Izmir Chamber of Agriculture
Chamber of Independent Accountants The Association of Listed Companies’ Turkish-Gulf Business Council
associations in which we are voluntary American Business Council
and Financial Advisors Izmir Chamber of Commerce Executives*
members of act as equally strong TURKTRADE*
American Turkish Council
Chamber of Mechanical Engineers Izmir Commodity Exchange The Association of Paint Industry*
formations in the sectors. These UN Global Compact (UNGC)
Ankara Chamber of Commerce
associations, provide contribution Chamber of Sworn-in Certified Public Izmir Industrialists’ and The Chemicals, Petroleum, Rubber
UN Global Compact Turkey
Ankara Commodity Exchange Accountants Businessmen’s Association and Plastic Industry Employers’
to local, regional and sectoral
Association of Turkey* Union of Dairy, Beef, Food
development, and have a strategical Antalya Chamber of Commerce and Corporate Management Association Izmir Union of Aquaculture and
Industrialists and Producers of
importance for our Group. Industry of Turkey Fishery* The Institute of Internal Auditing -
Turkey*
Antalya Commodity Exchange Çeşme Torism Hoteliers Association Kemalpaşa Organized Industrial Site Turkey
World Economic Forum
Association Consumption Outside Kocaeli Chamber of Industry The Union of Chambers and
ÇEVKO Foundation*
Home Commodity Exchanges of Turkey
Dubai Chamber Of Commerce Learning and Development
Association of Advertisers* The Valley of Kağıthane-Ayazağa
Association
Dubai Turkish Business Council Urban Development Association
Association of Cuisine Amicable Manisa Chamber of Commerce and *The organizations, in whose board of
Environment Education Foundation of TOBB Global Standards Center directors we are involved.
Association of Family Owned Business Industry
Turkey
Manisa Organized Industrialists Turgutlu Chamber of Commerce and
Association of Infant Food Eskişehir Chamber of Commerce
Association Industry
Manufacturers*
Eskişehir Chamber of Industry Marine Chamber of Commerce Turkish Economic Association
Association of Packaged Dairy
Ethics and Reputation Society* Mersin Commodity Exchange Turkish Exporters Assembly
Products Industrialists*
Association of Thermal Insulation, European Business Council National Food Technology Platform Turkish Feed Manufacturers’
Waterproofing, Sound Insulation European Coil Coating Association Association
National Milk Board
and Fireproofing Material Producers, (ECCA) Turkish Food and Beverage Industry
National Red Meat Council
Suppliers and Applicators European Food Information Council Association*
Nazilli Chamber of Commerce and
Association of Turkish Construction Federation of Western Anatolia Turkish Food Safety Association*
Industry
Material Producers Industrialists and Businessmen Turkish Industry and Business
Organic Product Producers and
Association of Turkish Travel Agencies Associations Association
Industrialists Association
Aydın Chamber of Industry Foreign Economic Relations Board Turkish Investor Relations Society
Packaged Water Manufacturers
Bar Association Foundation of Economic Researches Turkish Marine Environment
Association*
Protection Association
Bornova Association of Farmer Assets Fruit Juice Industry Association Packaging Manufacturers Association
Bornova Chamber of Agriculture Gebze Chamber of Commerce Paint Research Association
22 Yaşar 2015 Sustainability Report Yaşar 2015 Sustainability Report 23Ethics and Compliance
Ethics and Compliance
Ethics and Compliance
Corporate Management Executive Officer, is responsible for all execution activities the investors and the shareholders within the scope of
of Yaşar Holding to the Board of Directors. Furthermore, all the Legislation on Capital Market. Within the frame of
At each stage, during which the companies continue their
processes and responsibilities related with the management the relevant legislation, the shareholders, the public and
activities, a responsibility to the parties, in which they are in
and organization structure are defined in “Yaşar Holding other beneficiaries are informed in time, in a correct,
a relation, occurs. Corporate management, which creates an
Corporate Management Manual” and the business ethics understandable way and with accessibility under equal
understanding among the company management, board of
approach is determined with Yaşar Holding Business Ethics conditions with the informing policy published on the
directors, shareholders and all parties having a connection
Rules Manual and the employees of our Group have to Internet site of our company, which is created on the basis
with the company, is based on the frame of principles such
comply with this Manual. of transparency and accuracy. In this context, the wage,
as transparency, responsibility to stakeholders, justice and
indemnification, profit distribution and donation policies of
equality. “Yaşar Holding Corporate Management Manual” defines
those companies can be accessed from the Internet sites
the corporate management operation principles and the
Corporate management, which is regulated and whose of the companies. On the internet site of Yaşar Holding,
decision-making processes of the Board of Directors and
scope is determined with laws ensures an increase in the information on the areas of activity of the companies of
the execution, it also determines the authorities and
good management practices worldwide. The corporate our Holding is included and detailed information on the
responsibilities of the Board of Directors as well as the
management practices in our country are carried out by the companies of our Group, which are open to public, can
sub-committees and their roles. The principles of agenda
Capital Market Law and the Corporate Management Principles be accessed from the “Investor Relations” modules. The
determination and voting in the Board of Directors are also
Notification of the Capital Market Board (SPK). corporate management process of our companies, which
included in that Manual.
are open to public, and the progresses obtained within such
Yaşar Group reflected the corporate management process, are submitted to all stakeholders and the public with
Various systems have been established in order to allow our
understanding, which it assumes to be a very important the Corporate Management Principles Compliance Reports,
employees make recommendations or give advices to the top
factor for the sustainability of its companies, to all its which are prepared within the frame of Capital Market
management of the company.
activities together with its vision and prediction from the Legislation and which are included in the annual activity
past to today, its deep-rooted and strong corporate values Auditing Sub-Committee, Early Risk Detection Sub-Committee reports.
and culture, ethics understanding, compliance with the laws and Corporate Management Sub-Committee carry out
and legislation. In the Group, it is targeted to manage the their activities in affiliation to the Board of Directors of The Committee for Auditing, the Committee for the Early
interests of all beneficiaries in the best way. The corporate Yaşar Holding, which consists of 6 members. There are Detection of Risk and the Corporate Management Committee,
management structure adopted in Yaşar Group is being two independent members in the board of directors of the are included in the companies of Yaşar Group, and are
continuously reviewed within the frame of the Corporate companies of Yaşar Group, which are open to public. Those open to public, have been established within the frame
Management Principles. These principles were published independent members comply with all independence criteria of the Capital Market Legislation together SPK Corporate
by SPK in 2003 and then revised in 2005, also with the included in article 4.3.6 of the Corporate Management Management Principles; and the Candidate Presentation
amendment made in 2011, many provisions have become Principles, which is in the attachment of SPK’s II-17.1 Committee and Wage Committee have been structured within
obligatory for the companies publicly traded. SPK Notification, Corporate Management Notification. the Corporate Management Committee.
which was updated at the beginning of 2014, re-regulated the
Furthermore, in four of our companies, which are open to Yaşar Holding, which has taken important voluntary steps
Corporate Management Principles and finalized them.
public, there are two female members of Board of Directors about the application of best management approaches
In 2015, the corporate management grades of Pınar Dairy, and there is one female member of Board of Directors starting from the dates, when corporate governance
Pınar Meat and Pınar Water, which are included in Borsa in other two companies. This situation is an indicator of principles were not on the agenda in Turkey, manages the
İstanbul Corporate Management Index, were revised upwards our compliance with the Corporate Management Principle “Corporate Reputation”, which has been created as the result
reaching 9,18, 9,20 and 9,37, respectively. numbered 4.3.9, which is not obligatory. Furthermore, of long years, and continuous creating sustainable for its
committees required by the legislation are also established stakeholders and on a wider sense for the society with its
The responsibilities of the Executive Chief Office and the affective and proactive applications.
within the Board of Directors.
Board of Directors of Yaşar Holding are separate which is in
compliance with OECD Corporate Management Principles. In all companies of our Group, which are open to public,
The Chairperson of Board of Directors does not have any Investor Relations Department is established in order to
executive duties in the company, and Yaşar Holding Chief ensure a healthy and reliable communication between
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