On July 21, 2025, the Privatization and Corporatization Board (PCB), the regulatory authority for State Shareholding State-Owned Enterprises (SOEs), officially held an Appointment Certificate Ceremony to formally present the certificates to the newly appointed Board Members of various SOEs.

This ceremony also covered the handover of appointment certificates to the newly designated Managing Directors and Chairmen and other board members, signifying the commitment to strong corporate governance and professional leadership within the state's commercial ventures.

Mandate and Legal Authority These key appointments were executed under the legal mandate provided by Law number 3/2013 (Privatization, Corporatization, and Monitoring of State-Owned Enterprises Act). This Act explicitly empowers the PCB to appoint the leadership of state shareholding SOEs, ensuring accountability and adherence to best practices.

It is a crucial regulatory function of the PCB that its enabling legislation, the PCB Act, is a special act which supersedes other acts concerning the governance, structure, and board appointments of state shareholding SOEs. This legislative priority guarantees that the PCB's governance framework is uniformly applied across all companies under its purview, ensuring efficiency and transparency.

The formal ceremony marks the official commencement of duties for the new appointees, who are tasked with steering the SOEs towards enhanced performance and greater contribution to the national economy.