Eliminating the discriminatory treatment of company shareholders by introducing the principle of "one-share, one-vote" is one of the most important pillars of Corporate Governance. A wide range of dual-class structures exist. In some cases, the superior class benefits from dividends more than others. Essentially, the term covers any structure that confers a disproportionate amount of control on one group of shareholders in relation to their equity participation in the company.
Dual-class structures are unfair and give economic power to superior shareholders while facing the same financial risk.
Akbank is awarded with a prize by Turkish Shareholders Association after repurchasing of founder's shares in order to comply with “one share-one vote pricipal”. This attempt is accepted as revolutionary by the Association because Akbank is the first company eliminating dual class shares.
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