The EU's internal market commissioner, Charlie McCreevy, wants to put an end to differential voting rights by bringing in 'one share, one vote' across all 25 member states.
In an interview with the Financial Times, he expands on his desire to phase out the variety of discriminatory shareholder rights that are prevalent in certain European countries.
More than a third of Europe's 300 biggest companies, including such giants as BP, Carrefour and Volkswagen, eschew fully democratic shareholder voting in favor of some form of preferential or restrictive voting.
'That disproportionate power in the hands of minority shareholders puts the majority at a disadvantage in terms of voting rights and in terms of decisions that are made that are not necessarily in the interests of all the shareholders,' explains Onésimo Alvarez-Moro, managing editor of online governance blog Governance Focus.
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