Purpose- The decisions of the top managers of a company significantly affect the financial performance of that company. For companies, the general manager is actually the most valuable intellectual resource for that company. General managers' influence on strategies and organizational outcomes is critical. In this respect, the study is important and focuses on whether changes in the general manager have an impact on financial performance. There are many criteria for the selection of a new general manager. In this election, almost like a "horse race", companies can finish this job by choosing from among the inside candidates or buy the experience from outside. Candidates selected from the inside can act faster and on the spot because they know the company. External candidates, on the other hand, can make more agile and correct decisions because they have a pool of resumes and different experiences. This study aims to analyze the financial performance of companies included in the BIST30 index. When the literature is searched, the decisions of the company’s top management and the status of the company, which are the main factors of this study, significantly affect the financial performance of the companies. The study is carried out to measure the financial performance impact based on the periods with a change of general manager. The focus and purpose of the study are to analyze the financial performance of the general manager change while analyzing whether the status of the company as a public/private company has an effect on financial performance. In this respect, the study is different from other studies. Methodology- The design of the research covers companies with a change of general manager. The main body of the research consists of public companies included in the Borsa Istanbul (BIST) 30 index. First of all, within the scope of the literature examined on the effect of general manager changes on financial performance, variables such as ROA, ROE, Tobin's Q are used as dependent variables and Leverage Ratio, Share Closing Price, General Manager Change, General Manager's Origin, General Manager's Experience and Number of Employees determined as. Data on firm performance indicators were obtained from the PDP (Public Disclosure Platform) electronic database, Thomson Reuters Eikon Data Terminal and independent audit reports of the companies. In order to measure the impacts better, data for the pre and post-change periods were also collected. In order to create a balanced panel set, 24 companies out of 30 companies included in the Borsa Istanbul (BIST) 30 index were included in the research. The reason why 6 companies are excluded from the scope of the analysis is that there are no general manager changes as of the quarter periods of 2011-2019, which were included in the scope of work in the relevant companies. The effects of the origins, experience, and status of the newly appointed general manager on the financial performance of the company as a public/private sector company were analyzed with panel data regression analysis. Descriptive statistics were created, panel unit root tests, Hausman test, and panel regression analysis were performed respectively in order to achieve the purpose of the study. Findings- This study conducted on Borsa Istanbul (BIST) 30 Companies was not consistent in terms of regression results. First of all, within the scope of the analysis, it has been concluded that there is no significant relationship between the general manager changes and the financial performance of the company. While examining this effect, the selection of the general manager, which is frequently mentioned in the literature, by the internal or the external appointment was included in the analysis, and as a result, it was determined that the newly appointed general manager was selected through internal appointment and external appointment did not have an effect on financial performance. As a result of the study, a similar result was reached with the study conducted by Fanegan (2010) in the literature. According to the findings obtained from the analysis, it was concluded that the effect of being a Public/Private Sector company within the scope of general manager changes on financial performance was not found to be statistically significant. This result stands out as a point that diverges from the literature. Conclusion- The effect of the changes in the general manager on the financial performance of the companies was found to be statistically insignificant for the 24 companies included in the BIST30 companies and the period 2011Q1-2019Q4.