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| Management, Organization |
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Organization Chart |
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Board of Directors and Informetion about Management |
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Executive Committee (Executive Board) |
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Audit Committee |
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Corporate Governance Committee |
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Powers and Responsibilities |
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Message From The CEO
We are transformed and develop along with society. With average daily net sales of 518,000, Hürriyet shoulders the responsibility of being Turkey’s industry leader for 60 years. Esteemed Shareholders and Dear Colleagues, Marked by the global fnancial crisis, 2008 came to an end in Turkey without a major downturn in the leading macro indicators. That fact was due to the relatively late onset of the crisis’s repercussions on the Turkish economy. Having achieved 1.1% real growth, Turkey, to some extent, managed to stay clear of the rapidly rising tide originating in the fnancial markets. With the acquisition of its overseas subsidiary, Trader Media East, in 2007 Hürriyet now operates in an ad publishing market spanning a vast region of nine countries and 350 million people. The result was that in 2008, Hürriyet achieved TL998.4 million in annual circulation. With average daily net sales of 518,000, Hürriyet shoulders the responsibility of having been Turkey’s industry leader for 60 years. According to 2008 fgures, Hürriyet enjoys an 11.3% market share in total ad revenue and 38.7% in overall newspaper ad revenue. With US$ 40.4 million spent in 2007 on investment expenses, and completing all of these projects in 2007 except those in the Istanbul region, Hürriyet invested only in Istanbul in 2008. With the new printing press coming online in 2009, the production processes will become much more efcient. The increase in efciency will be due to the subsequent increase in print quality, the boost achieved in our existing equipment pool by 20% and our overall capacity to print color pages that increased by 35%. The most widely read newspaper in Turkey, Hürriyet reached readers throughout the country at 24,850 sales points in 2008. Of the total of overall newspaper sales, 62.2% were in the urban centers of Istanbul, Ankara and Izmir. The circulation revenue of TME, included in the consolidated fnancial statements from the second quarter of 2007, rose from TL 26.1 million in 2007 to TL 33.4 million in 2008. Transforming and developing within the society it operates since the day of its inception, Hürriyet regards corporate citizenship and the social responsibility perspective as indispensible components of its activities. The newspaper’s projects undertaken in this area leave their mark on the social history of Turkey. The "Liberty is our Right" train which dominated 2008 took its rightful place among these projects. The project marked the joint 60th anniversaries of the proclamation of United Nations’ Universal Declaration of Human Rights and the foundation of Hürriyet. The "Liberty is our Right" train set out from the easternmost part of Turkey and travelled 10,000 kilometers from Kars to Edirne to bring the concepts of "liberty" and "rights" to the heart of the social agenda. The "Liberty is our Right/ Train is Freedom" project was unprecedented in Turkey. It was an initiative realized as the collaboration of a major private media organization and a huge public institution (TCDD) on a very large scale. As an infuential social responsibility project, ongoing not only in Turkey but in Europe as well, the "No to Domestic Violence!" campaign was further reinforced and expanded with the participation of corporations such as İpekyol, Penti and Troya. The album Güldünya Şarkıları (Songs of Güldünya) featuring Turkey’s 13 most famous female vocalists was a meaningful and valuable contribution to perpetuate the campaign. Hürriyet considers all its social responsibility projects within the framework of a social investment strategy. Our strategy is built upon the conviction that it is necessary to support the society of which Hürriyet is an inseparable part, in those areas where needed. We will henceforth maintain our eforts in accordance with this approach. I would like to thank frst of all each and every member of the Hürriyet family for their dedication and eforts since the very beginning. Furthermore, I would like to express my gratitude to our shareholders for their support, our readers and all our social stakeholders for their trust and loyalty
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