10 | Acquisition International, Global CFO Excellence Awards 2024 SOCAR Aliağa Liman İşletmeciliği A.Ş., also known as SOCAR Terminal, is a prominent port management company located in Aliağa, İzmir, Türkiye. The company is renowned for operating one of the largest and most advanced ports in the Aegean region. Here, we delve into the illustrious career of SOCAR Terminal’s CFO, Kutlu Vardar as he is named in the Global CFO Excellence Awards 2024. Logistics and Container Terminal CFO of the Year 2024 (Middle East): Kutlu Vardar OCAR Aliağa Liman İşletmeciliği A.Ş. is part of SOCAR Türkiye, a subsidiary of the State Oil Company of Azerbaijan Republic. The terminal was created to enhance the efficiency of Petkim Port and develop it into the largest integrated port in the region. SOCAR Terminal serves as a crucial logistics hub in the region and provides various services, including container services, project cargo services, and warehouse services. The development of Petkim Port has been in the works for over a decade, with several key companies playing crucial roles in its advancement. In 2010, Petlim Port Management Inc. was established to aid the mission in developing Petkim Port, and is a 100% subsidiary of Petkim, which in turn is part of SOCAR. In December 2018, SOCAR Türkiye Energy Inc. fully acquired APM Terminals Port Management Inc., which was managing the terminal operations. The company was then renamed SOCAR Aliağa Liman İşletmeciliği A.Ş., with operations now undertaken by SOCAR Terminal. Now, SOCAR Terminal oversees port management and continues to operate the port in alignment with its initial integration vision and goals, maintaining the previous management’s port management system and operational structure. With an integrated dock structure of 700 meters and a minimum of 16 meters water depth, the terminal is the first and only port management company in the Aegean region to efficiently provide services to ships with a capacity of 18,000 TEU. As the largest port in the region, SOCAR Terminal holds a container handling capacity of 1.5 million TEU. With such a high capacity, SOCAR Terminal has certainly achieved its mission of establishing itself as a leader of the Turkish port sector. Overseeing the company’s financial operations is renowned Chief Financial Officer Kutlu Vardar. Born in Akhisar in 1979, Kutlu completed his primary and secondary education there before qualifying to study at the Department of Political Science and Public Administration at the Middle East Technical University in 1997. After graduating in 2002 with a Bachelor of Science in Political Science and Public Administration, Kutlu felt it was time to enter the business world. His university degree had well-equipped him with the necessary skills and knowledge to successfully navigate the corporate world, and Kutlu utilised this to his advantage. From 2003 to 2010, he held various positions in the PwC Assurance Department, and was responsible for performing independent audit procedures, specialised in the retail, tourism and energy sectors. Kutlu has extended his knowledge on International Financial Reporting Standards, US GAAP and SOX-404. Kutlu engaged in various IPO and merger and acquisition projects. Kutlu oversaw the of his clients’ budgets, performance evaluations, billing, and various administrative affairs, in addition to participating in recruitment interviews and holding a position in the staff evaluation team. Kutlu was the member of PwC Energy and Retail Groups. In 2010, Kutlu joined the team at Petkim Petrokimya Holding A.Ş. as the Risk Management and Internal Control Manager before becoming the Risk Management and Internal Control Coordinator. Here, Kutlu oversaw the establishment of an internal audit department, internal control framework, and enterprise risk management system from scratch. He was responsible for the preparation, execution, and reporting of audits, as well as contributing to the business plans of Petkim as a part of consultancy. Kutlu was the Chairman of Turkish Commercial Law Committee and member of Sustainability Committee. From 2013 to 2014, Kutlu worked as a Finance Manager at Tesco Kipa, where he gained valuable experience in supervising the financial activities and performance of the company. This included reporting, accounting, analysis, dispute management, cash-flow management, compliance and controls. Kutlu joined SOCAR Aliağa Liman İşletmeciliği A.Ş., formerly APM Terminals, in 2014 as the company’s Treasury, Business Control, and Risk Manager. Kutlu worked as the Accounting, Control and Risk Manager and Internal Audit, Risk and Insurance Manager of the company before being appointed Chief Financial Officer of the company. In this time, Kutlu has driven the company to great heights, utilising his vast wealth of industry expertise to successfully guide his team. Kutlu played an active role in the establishment of SOCAR Terminal and involved in various projects during the design of the SOCAR Terminal’s systems and processes. What’s more, Kutlu also taught an Advanced Accounting course between 2020 to 2021, as a part-time lecturer at İzmir University of Economics. As a lecturer, Kutlu’s area of expertise lay in management, accounting, and control systems. Using the remarkable knowledge he had gained throughout his career, Kutlu was able to shape and inspire the minds of our future. In addition to his impressive professional history, Kutlu also boasts a certification in Risk Management Assurance and holds a CPA certification, making him a Certified Public Accountant. These certifications not only highlight Kutlu’s expertise, but also demonstrates his commitment to staying at the top of his field. Outside of his position, Kutlu is married, and a father to his thirteen-year-old son and eight-year-old daughter. He enjoys playing chess, playing keyboard, listening to music, and reading history books, particularly about World War II. An intelligent individual with a distinguished career in the industry, Kutlu is recognised as a leader in his field. The sky is the limit for Kutlu, as he continues to strive for excellence in his position at SOCAR Aliağa Liman İşletmeciliği A.Ş. The Chief Financial Officer has masterfully demonstrated his expertise over the course S
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