Hepsiburada Strengthens Board Committees and Risk Management
Hepsiburada Strengthens Governance Through Committee Enhancements
Hepsiburada, a prominent player in the Turkish e-commerce landscape, has announced significant updates regarding its Board of Directors and associated committees. This change reflects the company’s commitment to improving governance and risk management practices that are essential for navigating today's dynamic business environment.
Updates to the Board of Directors' Committees
The recent decision by Hepsiburada's Board of Directors underscores the importance of robust committee structures. Effective from September 21, 2024, the Audit Committee, Risk Committee, and Corporate Governance Committee are composed of highly qualified professionals dedicated to overseeing critical aspects of Hepsiburada's operations.
New Committee Composition
The composition of these committees showcases a mix of experienced and independent directors. The Audit Committee now includes Mr. Tayfun Bayaz?t, Mr. Ahmet Ashabo?lu, and Mr. Stefan Gross-Selbeck, all of whom possess a strong background in financial oversight. Meanwhile, the Risk Committee includes Messrs. Ahmet Ashabo?lu, Tayfun Bayaz?t, and Tolga Babal?, focusing on mitigating potential business risks.
Reinforced Corporate Governance
In its latest developments, Mr. Hikmet Ersek has joined the Corporate Governance Committee, replacing Mr. Tayfun Bayaz?t. This appears to be a strategic move as Hepsiburada aims to enhance its governance framework, ensuring a comprehensive oversight mechanism that aligns with both local and international best practices.
Independent Oversight and Expertise
The Board of Directors has confirmed that several members, including Messrs. Ersek, Bayaz?t, Ashabo?lu, and Gross-Selbeck, qualify as independent directors. This distinction is crucial, as it assures stakeholders of unbiased oversight over company practices. Particularly, all Audit Committee members meet the stringent independence criteria set forth by the relevant regulatory authorities, ensuring financial decisions are handled with absolute integrity.
Advancing Risk Management
In an exciting development, the Risk Committee is slated to operate as an Early Detection of Risk Committee beginning in 2025. This changes the committee's frequency of meetings from four to six times a year, emphasizing Hepsiburada's proactive approach in identifying and reporting risks. By providing updates to the Board every two months, Hepsiburada demonstrates its commitment to transparency and accountability.
Hepsiburada's E-commerce Excellence
As a leading e-commerce platform in Türkiye, Hepsiburada serves millions of consumers by connecting them with a vast array of products. With over 66 million registered members and more than 264 million SKUs across diverse categories, Hepsiburada stands at the forefront of the digital retail revolution.
Innovative Business Model
The company's hybrid approach combines direct sales and a third-party marketplace, showcasing its adaptability in the evolving e-commerce space. With approximately 101,000 merchants collaborating on this platform, Hepsiburada fosters a robust ecosystem that benefits both consumers and businesses.
Empowerment Initiatives
Since its inception in 2000, Hepsiburada has committed to social initiatives, particularly focusing on empowering women in the Turkish economy. Their 'Technology Empowerment for Women Entrepreneurs' program has supported around 55,000 women, enabling them to reach a wider audience with their unique products.
Contact Information for Stakeholders
Investors and media representatives seeking additional information or wishing to engage with Hepsiburada can reach out through provided channels. The Investor Relations contact is available at ir@hepsiburada.com, and for media inquiries, please contact corporatecommunications@hepsiburada.com.
Frequently Asked Questions
What changes have been made to Hepsiburada's Board committees?
Hepsiburada has updated its Audit, Risk, and Corporate Governance Committees by incorporating new members and enhancing their roles for improved oversight.
Who are the current members of the Risk Committee?
The Risk Committee includes Mr. Ahmet Ashabo?lu, Mr. Tayfun Bayaz?t, and Mr. Tolga Babal?, focusing on identifying and mitigating risks.
What is the significance of independent directors on the Board?
Independent directors ensure unbiased oversight, aligning corporate governance with best practices and increasing trust among investors.
How does Hepsiburada empower women entrepreneurs?
Through initiatives like the 'Technology Empowerment for Women Entrepreneurs' program, Hepsiburada supports women by helping them reach broader markets.
What future plans does Hepsiburada have for risk management?
The Risk Committee will evolve into an Early Detection of Risk Committee, increasing its meeting frequency to enhance risk management efforts.
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