Baku, October 24, AZERTAC

In recent years, Azerbaijan has demonstrated rapid development of its business environment, strengthening its position in the region and shaping global ambitions. Digitalization, growing domestic consumption, the transformation of management models, and an influx of young talent are creating a unique window of opportunity. But at the same time, new challenges arise: how to scale companies without losing their identity? How to build modern corporate governance? And most importantly, how to develop a new generation of leaders capable of not only growing businesses but also inspiring people, managing change, and attracting global investors?

Engin Güven, an international expert in leadership, strategic management, and board development, partner and co-head of the EMEA Consumer Sector Practice at Egon Zehnder, shares his perspective in an interview with AZERTAC.

-You are a partner and co-leader of the Consumer Sector practice in EMEA at Egon Zehnder. What developments in the consumer sector are you observing in emerging economies like Azerbaijan? What are the key challenges facing local companies in building strong management teams?

-Emerging markets like Azerbaijan are going through a fascinating shift in consumer behavior. As digital access expands and purchasing power rises, consumers are becoming more discerning—seeking not just products but experiences, purpose, and trusted brands. Local pride, sustainability awareness, and digital commerce are reshaping how businesses connect with their audiences. The real challenge lies in leadership and organizational maturity. Many companies have entrepreneurial founders whose instincts and values form the organization’s DNA. The task now is to institutionalize leadership around that core—to translate entrepreneurial energy into scalable, sustainable systems. Transformation starts with leaders and executive teams who think strategically, delegate effectively, adapt fast, and scale with discipline. Senior leaders and Boards must invest in leadership depth, clarify roles and accountability, and evolve the culture as the business grows. My advice to Azerbaijani executives is to move toward a collective leadership model—where teams make bold, aligned decisions. It’s about shifting from control to trust, from intuition to structure, and from short-term problem-solving to long-term capability building. Real progress comes from transforming mindsets and behaviors, not just processes.

-Do you believe Azerbaijan has the potential to develop a new generation of leaders capable of entering the international arena? What role can international consultants play in this process?

-Absolutely—there is tremendous potential. I’ve met many Azerbaijani leaders who combine deep expertise, passion for results, openness to learning, and a genuine purpose to create value for the country. The younger generation is ambitious, curious, and globally minded. The key will be exposure—to diverse leadership environments, global governance standards, and different ways of thinking. Bridging local talent with global knowledge and creating safe spaces for senior leaders to reflect is crucial. We work as trusted partners on their leadership journeys—helping them build self-awareness, resilience, and the ability to inspire others through tailored, personal approaches.

For Boards and CEOs, leadership development should be seen not as “training” but as a strategic investment in the company’s future. The best organizations don’t wait for crises to test their leaders—they continuously build bench strength, provide stretch experiences, and nurture mentoring cultures where growth is part of the DNA.

-Egon Zehnder is known for its deep expertise in leader assessment and development. Can the tools and approaches you use in CEO and board development be adapted to the realities of the South Caucasus, including Azerbaijan?

-Very much so. Leadership is universal in essence but always contextual in expression. Our frameworks are rooted in decades of global research, yet we adapt them to each organization’s context, linking our work to business priorities, sector dynamics, and cultural realities. “One size fits all” doesn’t work—we co-create what good leadership looks like locally while being inspired by global benchmarks. With Boards, CEOs, and executives, we focus on both what they do and how they do it. We ask: How does the Board enable the CEO’s success? How does the team decide under pressure? How do leaders model the culture they aspire to build? These reflections go far beyond skills—they define the collective behavior of the organization. In the South Caucasus, leadership carries a strong relational dimension—trust, loyalty, and respect matter deeply. We build on these cultural strengths while encouraging greater collaboration, empowerment, and diversity of thought. I’ve been particularly impressed by Azerbaijani leaders’ shared sense of purpose—this commitment to “contributing to the country.” That national purpose forms a powerful foundation for modern leadership development.

-How often do you encounter requests from post-Soviet countries, including Azerbaijan, in your practice? What trends do you see in corporate governance transformation in these countries?

-We’re increasingly active in Azerbaijan, Kazakhstan, and Uzbekistan, where a clear shift toward more professional, transparent, and accountable governance is underway. This evolution demands new forms of leadership—at individual, team, and organizational levels. Boards and CEOs are now playing a more strategic role—moving beyond compliance toward stewardship of purpose, long-term vision, culture, and leadership pipelines. Topics like succession, diversity, and feedback—once considered sensitive—are now seen as critical for competitiveness. My advice to Chairs and Board members: embrace constructive tension. Challenge management while supporting them, bring external perspectives while protecting core values. To CEOs and executives: engage openly with your Boards. Great governance isn’t about control—it’s about enabling better decisions and stronger leadership at every level.

-What do Azerbaijani companies need to become “national champions” and attract global investors?

-Becoming a national champion rests on three pillars: purpose, professionalism, and people. Purpose means a long-term ambition beyond profit—something that unites employees, attracts customers, and builds investor confidence. Professionalism means governance, performance, and transparency aligned with global standards. And people—the most crucial element—means Boards, CEOs, and teams who think globally, act locally, and lead with integrity. For CEOs and Boards, I’d stress the importance of focusing early on succession, building systems over silos, and treating culture as a strategic asset. The strongest organizations distribute leadership across empowered teams who share values and vision. Transformation starts with leaders themselves. They must evolve their leadership identity to thrive amid complexity. Tailored development support can help them make that shift with clarity and confidence.

-What kind of leadership development programs could best serve Azerbaijani businesses amid competition and digital transformation?

-The best leadership development starts with self-awareness. Before adopting new tools or frameworks, leaders need to understand how they lead, where they get stuck, and what truly energizes them. That insight is the foundation for any lasting change. We help leaders build this awareness across dimensions—competencies, potential, values, and aspirations—then translate it into actionable growth.

We see leadership potential as rooted in four traits: curiosity, insight, engagement, and determination. Many regional leaders are highly results-driven; when that drive is combined with structured reflection and a clear growth plan, the impact can be transformative.

For Azerbaijani organizations, programs that blend personal reflection with real business challenges are especially powerful—combining mind and heart for holistic development.

Key focus areas include:

• Strategic agility: thinking systemically about markets and innovation.

• People leadership: building empathy, communication, and team mobilization.

• Digital mindset: fostering curiosity, experimentation, and comfort with change.

For senior executives and Boards, it’s essential to model these mindsets themselves. People don’t follow strategies—they follow leaders. When leaders learn, reflect, and evolve openly, they inspire others to do the same. That’s how true transformation begins—and endures.