When Charlie McCreevy publicly backed the "one-share, one-vote" principle two years ago, the EU internal market commissioner stunned corporate governance activists and business leaders.
The blunt Irishman, known as a passionate advocate of free markets and investor power, left little doubt about his intentions: "It is my goal to get the one share, one-vote principle accepted across the 25 member states," he said.
The issue had for years been the subject of controversial debate between managers, investors and corporate governance specialists.
Supporters of "one-share, one-vote" claim devices that prefer one group of shareholders over others have protected bad management and made takeovers less likely, in turn dragging down company valuations.
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