Koç Holding Explained

Koç Holding A.Ş.
Type:Holding Company
Foundation:May 31, [1]
Founder:Vehbi Koç
Location City:Kuzguncuk, Üsküdar, Istanbul
Area Served:Worldwide
Industry:Conglomerate
Products:Energy, automotive, consumer durables, finance, retail, construction, tourism, shipping, defence, information technology, investment, food
Revenue: 901.9 billion (2022)[2]
Net Income: 69.8 billion (2022)
Assets: 1.582.6 billion (2022)
Equity: 247.2 billion (2022)
Num Employees:~115,000 (2022)[3]
Subsid:[4]

Koç Holding A.Ş. (pronounced as /tr/) is the largest industrial conglomerate in Turkey, and the only company in the country to be listed on the Fortune Global 500 as of 2023.[5] The company, headquartered in Nakkaştepe, Istanbul, is controlled by the Koç family, one of Turkey's wealthiest families.[6]

The company was organised into its current form in 1963 when founder Vehbi Koç, who established his first firm in 1926, combined all the companies bearing his name into Koç Holding.

History

The first firm that was to become Koç Holding was established in 1926 by Vehbi Koç.[7] In 1984, Vehbi Koç handed his position as chairman of the board over to his son Rahmi M. Koç.In September 1988, the company moved its headquarters from Fındıklı, Istanbul, to Nakkaştepe on the Anatolian part of Istanbul.On April 4, 2003, Rahmi Koç retired and handed his position over to his eldest son Mustafa V. Koç. Rahmi Koç retained the title of honorary chairman and a seat on the board of directors.[8] In February 2015, Levent Çakıroğlu replaced Turgay Durak as CEO.[9] In 2016 Q1, Ömer Koç became the chairman of the board following the death of Mustafa V. Koç.[10]

Operations

The shares of 16 Koç Group companies are traded on the Istanbul Stock Exchange; together, the groups comprise 113 companies, 90,000 employees, and 14,000 dealers, agencies, and after-sales services people.[11]

Group companies[12]

Energy

Finance

Consumer Durables

Automotive

Other Lines of Business

Notes and References

  1. https://www.koc.com.tr/about-us/history
  2. Web site: 2022 Annual Report. February 28, 2023.
  3. Web site: 2022 Annual Report. February 28, 2023.
  4. Web site: Group Companies. Koç Holding A.Ş.. 2012-06-16. 2012-06-18. https://web.archive.org/web/20120618040127/http://www.koc.com.tr/tr-tr/Kurumsal/SirketListesi/Pages/Sirket_Listesi.aspx. dead.
  5. Web site: Fortune Global 500 . 2023-09-09 . Fortune . en.
  6. Web site: Forbes, 2010 yılının milyarderler listesini açıkladı. 11 March 2010. 24 April 2015.
  7. Book: Salihovic, Elnur. Major Players in the Muslim Business World. 2015-10-05. Universal-Publishers. 978-1-62734-052-6. en.
  8. Book: The Economist. 2003. Economist Newspaper Limited. en.
  9. Web site: UPDATE 1-Turkish conglomerate Koc Holding names new CEO . reuters.com . 2015-02-17 . 2017-04-03.
  10. Web site: Ömer Koç becomes chairman of Turkey's largest conglomerate after death of brother Mustafa Koç. Wires. Daily Sabah with. 2016-02-22. Daily Sabah. en. 2020-05-14.
  11. Book: Yamak. Sibel. A Primer on Corporate Governance: Turkey. Ertuna. Bengi. 2017-03-22. Business Expert Press. 978-1-60649-883-5. en.
  12. Web site: Koç Holding Sektörler . 2023-08-14 . www.koc.com.tr.

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