Career
Executive record
- 2026–
Independent Board Director & Advisor
Cosmos Business Advisory · Dubai
Non-executive and advisory board roles, and selected operating partner mandates with private equity firms and family groups.
- 2023–2026
Chief Executive Officer
Badael (Public Investment Fund) · Riyadh
Built the company from inception into Saudi Arabia's national leader in nicotine pouches: ~$400M revenue run-rate, 700,000+ adult switchers and a localised manufacturing base in Jeddah.
- 2021–2023
Group Chief Executive Officer and Board Member
Solico Group · Dubai
Delivered the group strategy for a $1B+, 20,000-person food and beverage group: in 2022, core-market revenue grew more than 50% and EBITDA rose fourfold; stabilised the Iraq business and restored its profitability, and almost doubled AMEA profit.
- 2019–2021
Chief Executive Officer
Al Safi Danone (JV with Danone) · Riyadh
Restored operating profitability within the first year; fit-for-growth programme delivering more than $30M in savings, in a business supplying 14 markets.
- 2018–2019
Chief Executive Officer
Masafi · Dubai
Restructured the region's leading private premium water business, repositioned the brand and reversed a sustained decline in UAE market share.
- 2015–2018
Chief Executive Officer
Aujan Coca-Cola Beverages (JV with The Coca-Cola Company) · Dubai
63% increase in system operating income in year one across a ~$1B regional beverage system.
- 2012–2015
Chief Commercial Officer, and CEO of the group's beverage and packaging operations
Aujan Group Holding · Dubai
Turnaround from a $50M audited loss to a $25M profit in one year under international sanctions; $100M of intercompany debt repaid from local cash flow.
- 2004–2012
Senior leadership roles
Aujan Industries · Yıldız Holding (Ülker)
Grew Aujan Industries from ~$140M to ~$500M in revenue in four years; led marketing for Ülker's dairy, beverage, coffee and confectionery categories and its international business.
- 1994–2004
Sales, brand and business unit roles
Unilever · Istanbul
Created the Lipton Ice Tea category in Türkiye, reaching ~80% market share; Unilever Path to Growth Award (November 2003).
Board service
- Solico Group2021–2023
- Al Safi Danone Iraq joint venture2019–2021
- Turkish Business Council in Dubai & Northern Emirates2015–2018
- Aujan Group Holding2012–2017
Governance credentials
- INSEAD International Directors Programme2025
- INSEAD Certificate in Corporate Governance2026
- Singapore Institute of Directors, Member2026
- INSEAD Directors Network, Member2026
- World Turkish Business Council (DEİK/DTİK), Member2025
- BA Economics, Istanbul University1994
On governance
Governance is easy to establish on paper. Much harder to practice.
From “The Illusion of Governance”, published on LinkedIn. Tolga also writes The Uncomfortable Question, a monthly newsletter on practical governance.
Advisory work is delivered through Cosmos Business Advisory
Board advisory, governance and transformation for family groups and investors across the GCC, Türkiye and Europe: independent board roles, governance reviews, turnarounds, operating partner support and market entry.
Visit Cosmos Business AdvisoryContact