BEKO Central Asia

Aycan Güvench: "People are my priority"

Aycan Güvench is a new Director of Finance and Accounting for Beko in Central Asia. He started working on January 1, 2023 and moved with his family to Kazakhstan. Beko's new CFO in Central Asia told our magazine about his leadership style, career achievements and, of course, serious business plans for the future.

- Please tell us your personal story and how your career path began.
– In 2013, I was graduated as industrial engineer and immediately joined Arçelik. Since then I have been working here and will soon be celebrating my 10th anniversary with the company. The company is a real school, giving everyone the opportunity to learn and gain different experiences that contribute to career development and growth. I have learned a lot at Arçelik since day one. During this period of time, I got my second degree in business administration.

What career accomplishments are you most proud of?
– Tere are many of them. For example, the introduction of supplier chain finance systems in Arçelik. We created an ecosystem for working along with banks and suppliers. This system contributes greatly to Arçelik's working capital and also benefits shareholders. When we first started working, we dealt with one bank and three suppliers. When I moved to Beko, there were already three banks, almost 30 suppliers, and financing reached approximately 200 million Turkish liras.

In addition, we have developed a similar system with C2FO, a financial institution that provides dynamic discounts, maximizing Arçelik discount revenue and allowing vendors to offer early payment discounts from Arçelik.


Another important achievement is my active participation in financial matters in the creation of five subsidiaries in Azerbaijan, Croatia, Greece, Hungary and Algeria. I was engaged in the transfer of capital, opening bank accounts. I have also helped subsidiaries start their financial activities.

Arçelik offers everyone the opportunity to learn and gain different experiences that contribute to career development and growth.
My long-term goals mean that I accompany the growth of the company by continuing to learn, taking on additional responsibilities and making the most of my team and business.
- Please tell us about your main targets that you set for yourself in your new job.
– My appointment at Beko in Central Asia was a real test for me: a new country and my first managerial experience. Long-term goals mean that I accompany the growth of the company by continuing to learn, taking on additional responsibilities and making the most of my team and business. I hope that within three years the regional sales turnover will reach 100 million euros and more. In the long term, I want to become the CFO of a Beko subsidiary with manufacturing facilities.

– How do you assess the results of Beko 2022 in Central Asia? What are your expectations for 2023?
– Despite the challenges of growing global political tensions, tightening financial markets, recession fears, rising inflation and supply chain disruptions, we maintained growth momentum in 2022. Our turnover in the Central Asia has reached 52 million euros, to which Kazakhstan and Uzbekistan have made a large contribution. I am deeply convinced that high inflation and rising interest rates, food and energy prices have negatively affected consumer confidence and demand, and I think that these challenges will continue into 2023.

It is critical to stick to our profit target and continue to generate positive cash flow in 2023. The acquisition of Whirlpool in Russia will have a positive impact on our turnover and market share in Central Asia, as well as further business development.
Regional General Director Ferrukh Girgin and Aycan Güvench hold high-stakes talks
Yes, this is a very challenging time for business. What are your main concerns?
- To be honest, the market is more competitive than ever - many Chinese and South Korean suppliers are present in all countries in our area of responsibility. Moreover, pricing and positioning of products is becoming more complex every day.

On the other hand, getting cash in the financial markets is becoming more difficult and interest rates are high. This directly affects consumer behavior. Another challenge we face is the sanctions against Russia. We have serious difficulties with the transfer of money for goods towards Russia from some countries. This directly affects our sales, because no one wants to sell products that cannot be paid for. But we are a global company with good manufacturing facilities and we had no problem finding alternative solutions.

– What are the specifics of doing business in Central Asia?
I have only been here a couple of months, but I can point out a few things. Even if everything is recovering after the pandemic, due to the long-running conflict between Ukraine and Russia and inflation (especially rising food and energy prices), the prospects for the regional economy are rather dire. In addition to these factors, the market is highly competitive. In these difficult conditions, we must do our best to develop our company and increase our market share.

– Have consumer preferences changed recently?
– Covid-19 has particularly affected consumer behavior and buying pattern. With the development of online shopping, every consumer has become a product explorer. It is impossible not to take into account that from year to year the share of sales of household appliances via Internet is growing both in the world and in our region. However, the decisive factor influencing the purchase is still the price.
A good working environment is essential to building a productive and strong team. We can only build a collective world if everyone understands each other and looks for solutions that suit everyone. I would like to work with people who are result oriented.
How would you describe your leadership style? What are your team building principles? How to keep employees motivated to achieve?
– I would not say that I have a particular leadership style. I take a multi-style approach. Each specific situation requires a specific one. But I always try to get a clear idea of the end goal and how to achieve it. In addition to motivating my team to achieve a specific goal, I also collect information and ideas from my employees and implement them effectively.

A good working environment is essential to building a productive and strong team. If an employee is dissatisfied with working in this company, this will necessarily affect other employees, and therefore the overall pace of work.

So I know very well how important it is to empathize with employees, understand their current state and quickly find solutions. We can only build a collective world if everyone understands each other and looks for solutions that suit everyone.


For stability, I would like to work with people who can work in an honest, creative and result-oriented team.

What would you say is your priority in your new position?
– For 10 years of work in the company, I have held various positions in the field of accounting and finance. I have worked in teams, always prioritizing the needs of the people and an approach based on human values and fairness. So I can say that people come first for me. And then financial sustainability, digitalization and value creation.
By invitation of Mr. Ferrukh Girgin, Beko's office in Central Asia was visited by the Turkish Ambassador to Kazakhstan, Consul General of Almaty, Mr. Ali Ryza Akıncı.
– What do you like most about Kazakhstan?
- We as a family try to explore as much as possible the local culture - mainly on weekends. So far, what I like most about the locals is how friendly and smiling they are. When compared to Turkey, we have a very similar cuisine and climate. Most of all, we like to drink tea with desserts in our favorite city cafes. I recommend everyone who travels to Kazakhstan to try their wonderful local teas. It is also very nice that many people understand Turkish, due to the fact that there are many common or similar words in Kazakh.

It is great that in the market you can easily communicate in Turkish, although, basically, we hear Russian everywhere. Beyond that, I appreciate the local drivers yield to a pedestrian, respect the road code, which, of course, saves many lives. I love how strict these rules are. In general, I still have a lot to learn about the country to better answer this question.

- How do you spend your free time? Can you keep your work-life balance?
- I have a family and a little daughter, she is two years old, I spend my free time with her. So on the weekend you most likely meet our family at the playground in some mall. And we really like the restaurant culture in the city. I like discovering new cafes, trying food and drinks. The local nature is very relaxing, so on sunny days we like to walk in the parks. In my free time I enjoy football and basketball: both as a fan and as a player, of course, when I have the opportunity to play.

My work life is very busy, but I keep my balance by spending weekends with my family. I also try not to engage in business matters outside of work, unless it's urgent. This is my private time, I take him for rest and family and really appreciate it. Personal happiness, success, and productivity can only be achieved when there is balance.
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