Three generations, three eras: Vehbi Koç was assembly, I was production, the children are international expansion
Rahmi Koç divided up the Koç Group, which is only two years younger than the Republic, into three eras, saying, “My father Vehbi Koç’s era was assembly, my era was production, and my children’s era is imports, exports, and opening our brands up to the outside.” He explained that he and his children found a ready-established institution with strong foundations. His words about his children’s management, in fact, seem to answer questions that many wonder about these days: “I am not taking part in day-to-day work. They manage the work day-by-day. Beneath them are professionals. We told them to use the professionals well. You need do nothing else and they will run things very well. Each of them looks after a group. I am happy. They get on well with one another, that’s the most important thing.”
Rahmi Koç described how one of the biggest problems in the global world of family businesses, internal family clashes, has not happened at Koç: “As you know, big fortunes, big companies, big groups have disappeared due to fights between family members. Or they have crumbled and shrunk. We don’t have that. The children have so far carried it very well. I hope they will continue doing it after we are gone.” Rahmi Koç said that his father Vehbi Koç had taken important steps on the road to corporatization, but that there were still important differences:
“Corporatization is important. We give authority to professionals, but within our defined budgets. They don’t go outside the budget; if they do, they need permission.”
Rahmi Koç continued in response to my question about where the Koç Group saw itself in the upcoming years: “In order for the Koç Group to continue like this, it needs to open up to the world. From now on, our investments will be abroad, but life is not easy there. We have a reputation here: To very gradually establish ourselves, make investments, be successful. All of our children have that philosophy, because in their youth they worked at our companies abroad.”
News by Jale Özgentürk, Hürriyet, January 31, 2016