Advisory
Five ways we work with boards and owners
We help when the stakes are high and the answer is not on paper: a board that needs a stronger independent voice, a business that has lost its way, or an investor who needs an operator in the room.
Independent board and committee roles
Non-executive director, committee chair or board adviser, bringing independent judgment and operating experience to the table.
Typical basisAnnual board fee
Board and governance advisory
Governance reviews, board effectiveness, shareholder and family governance, CEO and leadership succession.
Typical basisProject fee
Turnaround and transformation
Diagnostics, value creation plans and hands-on delivery, including interim CEO or executive chair roles where the situation calls for it.
Typical basisMonthly retainer plus success fee
Operating partner for investors
Commercial and operational due diligence, first 100 days and value creation for private equity and family-group portfolio companies.
Typical basisRetainer, success fee or co-investment
Market entry and partnerships
Partnerships, joint ventures and route to market between the GCC, Türkiye and Europe, from partner search to governance of the venture.
Typical basisProject fee plus success fee
Family groups
Holding companies in the GCC and Türkiye professionalising their boards and preparing the next generation.
Sovereign and government-related entities
Portfolio companies building new categories under national agendas.
Private equity and investors
Funds and family offices investing in consumer, consumer health and regulated industries.
International companies
Consumer businesses entering, restructuring or partnering in the Middle East.
Approach
How an engagement runs
Short diagnosis, clear decisions, visible delivery. We stay until the result holds without us.
Diagnose
Meet the board, management and the numbers. Separate the real problem from the reported one.
Decide
A short plan with owners, targets and the few decisions only the board can take.
Deliver
Work alongside management on execution, with monthly reporting the board can act on.
Embed
Leave the governance, people and controls in place so the value stays after we step back.
Track record
Results from the operating seat
Our advice comes from three decades of running businesses under sovereign, global joint venture and family ownership, with revenues from $200M to over $1B and teams of up to 20,000 people.
| Result | Business | What it took |
|---|---|---|
| ~$400M | Badael PIF-owned · CEO 2023–2026 | Revenue run-rate built from inception; Saudi Arabia's national leader in nicotine pouches, with local manufacturing in Jeddah and 700,000+ adult switchers. |
| +63% | Aujan Coca-Cola Beverages JV with The Coca-Cola Company · CEO 2015–2018 | System operating income in year one, across a ~$1B regional beverage system. |
| $30M+ | Al Safi Danone JV with Danone · CEO 2019–2021 | Savings from a fit-for-growth programme; operating profitability restored within the first year. |
| –$50M → +$25M | Regional beverage and packaging group CEO 2012–2015 | From audited loss to profit in one year under international sanctions, with $100M of intercompany debt repaid from local cash flow. |
| $1B+ | Solico Group Group CEO and board member 2021–2023 | Group strategy and financial targets delivered across a 20,000-person food and beverage group, led by a turnaround in the profitability of the Iraq business. |
Founder
Tolga Sezer
Independent Board Director · Former CEO of PIF-owned, Coca-Cola and Danone joint venture businesses
Tolga has spent more than 30 years leading consumer, consumer health and regulated businesses across the Middle East, Türkiye and Europe, including six CEO mandates.
He built Badael for the Public Investment Fund from inception into a national category leader, led joint ventures with The Coca-Cola Company and Danone, and turned around businesses for leading regional family groups. He began his career at Unilever, where he created the Lipton Ice Tea category in Türkiye.
He now serves in non-executive and advisory board roles, and works selectively with private equity firms and family groups as an operating partner.
Full profile at tolgasezer.com
Board service
- Solico Group
- Al Safi Danone Iraq joint venture
- Turkish Business Council in Dubai & Northern Emirates
- Aujan Group Holding
Credentials
- INSEAD International Directors Programme
- INSEAD Certificate in Corporate Governance (2026)
- Member, Singapore Institute of Directors
- BA Economics, Istanbul University
Perspective
Independence is not a designation. It is the courage to challenge.
From “The Illusion of Governance” by Tolga Sezer. Read more on LinkedIn.
Contact
Start with a confidential conversation
Tell us about the board, the business or the investment. We reply personally, usually within two working days, and treat every first discussion as confidential.