Dr. Güler Manisalı Darman, one of Turkey’s leading figures in corporate governance, discussed the critical role of corporate governance in transforming companies and leading them towards sustainable success at Near East University.
Dr. Güler Manisalı Darman, one of Turkey’s leading figures in corporate governance, met with participants at the “New Horizons: Science and Technology Meetings” event organized jointly by the Near East University Technology Transfer Office (NERITA) and the Near East University Experimental Health Sciences Research Institute (DESAM). Coordinator of the meetings and President of NERITA, Prof. Dr. Murat Özgören, shared Dr. Güler Manisalı Darman’s brief biography and emphasized the importance of the visionary perspective she will bring within the framework of the concept of “metamorphosis.”
Speaking at the seminar titled “Metamorphosis in Companies: The Corporate Governance Journey,” Dr. Güler Manisalı Darman emphasized the importance of corporate governance in helping companies achieve their sustainable growth goals. Darman emphasized the inevitability of institutional renewal processes in the face of changing economic dynamics and technological advancements, stating that this transformation is not only a structural but also a cultural journey.
The seminar, which drew a large participation from academics and executives from various companies, provided participants with important insights into the current transformation of corporate governance.
The importance of responsibility and transparency in corporate governance was emphasized.
Dr. Güler Manisalı Darman stated that corporate governance is shaped by an approach based on transparency, accountability, and ethical values. She said, “If board members breach their obligations and cannot prove they are not at fault, they are liable to the company, its shareholders, and its creditors for the damage they inflict.”, defining this as a principle that implies the acknowledgment of fault from the outset.
Dr. Güler Manisalı Darman also said, “Unless it can be proven that reasonable care was not exercised in the selection of those who transfer these duties and authorities, the transferor shall not be liable for the acts and decisions of these individuals.” Dr. Güler Manisalı Darman emphasized that good corporate governance practices apply not only to publicly traded companies, but also to companies that have been passed down through the second or third generations and to multi-shareholder companies. Dr. Darman added, “Determining company strategies, establishing sound corporate risk management, and establishing internal control processes are among the non-delegable responsibilities of the Board of Directors.”
Dr. Güler Manisalı Darman stated that independent auditing is a critical step in establishing credibility in financial reporting, explaining that this audit provides investors, creditors, and other stakeholders with reasonable assurance that the financial statements are free of errors, fraud, and inaccuracies. Dr. Darman also emphasized that board members should accurately define their rights and interests and, at a minimum, disclose their policies on this matter to shareholders, while also emphasizing that shareholders should take a long-term view of companies.
Who is Dr. Güler Manisalı Darman?
Dr. Güler Manisalı Darman graduated from the Department of Business Administration at METU’s Faculty of Administrative Sciences in 1979. She completed her master’s degree in Business Administration at Ankara University and her doctorate at Başkent University. Between 1980 and 1988, Dr. Darman served as a Director of the Turkish National Committee and subsequently held various senior positions in the private sector. In 2005, she founded her own consulting firm, GMD Global Consulting, and in 2007, she founded the CGS Center – Center for Corporate Governance and Sustainability, continuing her work on institutionalization and sustainable business models.
Also active internationally, Dr. Darman served as Vice President of the ICC Paris Financial Services and Insurance Commission, a member of the ICC Finance Committee, and as a private sector representative in G20 processes. Her works, including “Corporate Governance Worldwide”, “Corporate Governance Approach and Turkey in Global Economies”, and “Handbook on Institutionalization in Family Businesses” are recognized both nationally and internationally. Dr. Darman, who has lectured at METU, Bilkent, Izmir University of Economics, OSTİM Technical University, and TÜBİTAK-TÜSSİDE, was elected an honorary member by METU TECHBAN in 2016 and continues to actively work for the development of corporate governance culture in Turkey.