Yildiz Holding: CFO and Head of Non-Food Businesses has been appointed as Executive Deputy Chairman

Istanbul / TR. (yh) Yildiz Holding the largest food group in CEEMEA and the third largest baked snacks company in the world with the acquisition of United Biscuits (UB) in last November, made appointments as part of its global restructuring process.

Dr. Cem Karakas, Yildiz Holding CFO and the Head of Non-Food Businesses, is appointed as the Executive Deputy Chairman, the top professional position within the Group.

Mustafa Tercan who is already serving as Deputy CFO in Yildiz Holding will take Dr. Karakas’s CFO position.

»Dr. Cem Karakas, has been essential in the creation of Yildiz Holding’s global roadmap and its execution. He will contribute greatly with his new role to the growth and structuring of the company in our new chapter. That being said, CFO position is also well covered. Karakas is handing it to a close colleague of his», stated Yildiz Holding’s Chairman Murat Ülker.

With transaction experience of over 100, Karakas is the leading expert in M+A and corporate restructurings in Türkiye. At Yildiz, Karakas led the restructuring of Ülker encompassing over twenty corporate entities, IPO of Bizim Toptan, SPO of Ülker, as well as acquisitions of DeMet’s Candy and United Biscuits, among other several dozen transactions.

Dr. Karakas began his career at Koç Holding, in the Strategic Planning Group. He became Director of New Business Development at OYAK Group, the largest institutional investor in Türkiye and General Manager at OYAK Real Estate Development. Over the years, he served as board member of some of the largest Turkish corporations. From 2006 to 2010 Dr. Karakas was CFO of Erdemir Group.

Dr. Cem Karakas received his bachelor’s degree from Middle East Technical University, his master’s degree from Massachusetts Institute of Technology, and his doctoral degree from Istanbul University.

Mustafa Tercan who has been appointed as the new CFO has been with the company for five years. Tercan, who has acted respectively as Head of Financial Control and Deputy CFO started his professional career at Deloitte. With 19 years of sector experience, Tercan holds a bachelor degree in economics from Ankara University.