Turkey: Business must come before family
The Sabanci group, a Fortune 500 company with a turnover of nearly $9 billion in 1997, is one of a handful in Turkey that is making a serious attempt to institutionalize a heavily family dominated structure.
At the beginning of 1995 Sabanci commissioned consultants McKinsey to prepare the blueprint of the transition. One year later the plan was put into effect. But Sakip Sabanci, the 65-year-old patriarch who has been at the helm for more than three decades, says that he had been turning the idea over for more than 15 years.
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